A "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on Sutlej Textiles and Industries Ltd (
SUTLEJTEX
). This bullish signal indicates that the stock price may rise from the close of 59.77 to the range of 69.00 - 72.00.
The pattern formed over 36 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend.
PLEASE NOTE THAT:
SUTLEJTEX
). This bullish signal indicates that the stock price may rise from the close of 59.77 to the range of 69.00 - 72.00. The pattern formed over 36 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend.
PLEASE NOTE THAT:
- This chart analysis is only for reference purpose.
- This is not buying or selling recommendations.
- I am not SEBI registered.
- Please consult your financial advisor before taking any trade.
Trade closed: target reached:
EDUCATIONAL TARGET CLOSED!!