10 Years Multiyear Rectangle Consolidation Breakout at PONNIE
10 Years #Multiyear Rectangle Consolidation #Breakout at #PONNIERODE {Ponni Sugars (Erode) Ltd} Weekly Chart. Its #Outperformed #Nifty.
BSE: 532460
NSE : PONNIERODE
What Is a Rectangle?
A rectangle is a pattern that occurs on price charts. A rectangle is formed when the price reaches the same horizontal support and resistance levels multiple times. The price is confined to moving between the two horizontal levels, creating a rectangle. The concept of a rectangle is similar to a Darvas Box.
KEY TAKEAWAYS -
1. A rectangle occurs when the price is moving between horizontal support and resistance levels.
2. The pattern indicates there is no trend, as the price moves up and down between support and resistance.
3. The rectangle ends when there is a breakout, and the price moves out of the rectangle.
Some traders like to trade the rectangles, buying near the bottom and selling or shorting near the top, while others prefer to wait for breakouts.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
BSE: 532460
NSE : PONNIERODE
What Is a Rectangle?
A rectangle is a pattern that occurs on price charts. A rectangle is formed when the price reaches the same horizontal support and resistance levels multiple times. The price is confined to moving between the two horizontal levels, creating a rectangle. The concept of a rectangle is similar to a Darvas Box.
KEY TAKEAWAYS -
1. A rectangle occurs when the price is moving between horizontal support and resistance levels.
2. The pattern indicates there is no trend, as the price moves up and down between support and resistance.
3. The rectangle ends when there is a breakout, and the price moves out of the rectangle.
Some traders like to trade the rectangles, buying near the bottom and selling or shorting near the top, while others prefer to wait for breakouts.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.