#POWERGRID - completion of a Diagonal Triangle
The earlier posted cup and handle pattern on Powergrid has not materialised. The stock has moved sideways and the pattern now looks like a ending diagonal. On the long term charts the rally from Mar '20 can be counted as a completed 5 wave structure.
A break below the lower trendline of the diagonal pattern can accelerate a down move to 175 levels in short time.
Recent highs will be the stop loss for risk management
A break below the lower trendline of the diagonal pattern can accelerate a down move to 175 levels in short time.
Recent highs will be the stop loss for risk management
Michael @ SolomonsView
Twitter - @SolomonsView
Twitter - @SolomonsView
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