Rain Industries has undergone a Huge consolidation between45-250 price range for 7 long years under a Perfect Cup & Handle pattern formation.
The pattern formed under a larger weekly time frame is a good advantage.
The recent volume spikes attributes to a tendency of break out in near term.
The price action can be followed up in below ways.
1. Becomes active once Weely candle closes above - 200.
2. Stop Loss - Weekly close below 115
3. Target 1 - 250
4. Target 2- 345-350 range
5. Target 3 - 450-455 (This will take more time, so as the price to retest the base of 250 range and pull back to 450).
This information is only for educational purpose, not for any recommendation.
The pattern formed under a larger weekly time frame is a good advantage.
The recent volume spikes attributes to a tendency of break out in near term.
The price action can be followed up in below ways.
1. Becomes active once Weely candle closes above - 200.
2. Stop Loss - Weekly close below 115
3. Target 1 - 250
4. Target 2- 345-350 range
5. Target 3 - 450-455 (This will take more time, so as the price to retest the base of 250 range and pull back to 450).
This information is only for educational purpose, not for any recommendation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.