Prince Pipes Fittings Ltd: Something big is about to happen
Here is an interesting one. One of my favourite thing to see in a chart is one formation leading to the development of another formation.
Here, on the daily chart, Prince Pipes formed a perfect Flag and Pole Pattern with higher volume in pole formation and lower volume during Flag. It gave a breakout of this pattern and retested the level. In doing so it formed an Inverted Head and Shoulders Pattern and gave a breakout of this Inverted Head and Shoulders pattern with volume.
Two bullish pattern breakouts are seen in Prince Pipes. After 4 months Prince Pipes is finally ready to give us a rally.
Target 1: 800-805
Target 2: 865-875
Target 3: 1080-1100
Here, on the daily chart, Prince Pipes formed a perfect Flag and Pole Pattern with higher volume in pole formation and lower volume during Flag. It gave a breakout of this pattern and retested the level. In doing so it formed an Inverted Head and Shoulders Pattern and gave a breakout of this Inverted Head and Shoulders pattern with volume.
Two bullish pattern breakouts are seen in Prince Pipes. After 4 months Prince Pipes is finally ready to give us a rally.
Target 1: 800-805
Target 2: 865-875
Target 3: 1080-1100
