Synergy Green - A chart pretty Clean
One way of looking at it is a uptrend followed by a sideways consolidation.
This consolidation usually forms a continuation pattern by way of a cup and handle pattern, Inverted head and shoulder pattern and in this case as well, it has been forming a rising channel.
The volume also suggests that there was a decent accumulation on the way up followed by some profit booking. That level is a major supply zone and once that level is consumed, we could see a fresh demand in this script.
I suspect that another attempt to 480 will push itself into making a small contraction before it zooms towards the targets.
Trail the SL.
This consolidation usually forms a continuation pattern by way of a cup and handle pattern, Inverted head and shoulder pattern and in this case as well, it has been forming a rising channel.
The volume also suggests that there was a decent accumulation on the way up followed by some profit booking. That level is a major supply zone and once that level is consumed, we could see a fresh demand in this script.
I suspect that another attempt to 480 will push itself into making a small contraction before it zooms towards the targets.
Trail the SL.
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
Disclaimer
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