Prob Cup & Handle pattern,TWL Stock is waiting for breakout WK?
There is a high probable Cup and Handle pattern forming in Weekly Chart.
123.90 was the 23 Apr 2018 High, from that level Stock started falling. After 4 year, in Jan 2022 it again came to that level & got rejected. Now again stock came to that level which gives an idea that bulls are interested & bounce back very quickly, even made new high of 127.65 but couldn't sustained.
That's why breakout was not confirmed, when ever it break that level with good candle and volume we can take long position by keeping proper stop loss and risk reward.
We can see major trend line which further confirms bulls are in control in the recent weekly, So watch out for that trend line also, if it break that support, then we may see down trend or consolidation phase.
If any one taking long position 89 will the strict SL. Fundamentally stock is not that much strong, so deploy capital based on risk apatite.
Targets are given the charts, Technically stock has a potential to reach 220 plus. Before that it has to cross mentioned target first.
This is just a view not a recommendation to trade. Do your own analysis before taking any trade.
TITAGARH
123.90 was the 23 Apr 2018 High, from that level Stock started falling. After 4 year, in Jan 2022 it again came to that level & got rejected. Now again stock came to that level which gives an idea that bulls are interested & bounce back very quickly, even made new high of 127.65 but couldn't sustained.
That's why breakout was not confirmed, when ever it break that level with good candle and volume we can take long position by keeping proper stop loss and risk reward.
We can see major trend line which further confirms bulls are in control in the recent weekly, So watch out for that trend line also, if it break that support, then we may see down trend or consolidation phase.
If any one taking long position 89 will the strict SL. Fundamentally stock is not that much strong, so deploy capital based on risk apatite.
Targets are given the charts, Technically stock has a potential to reach 220 plus. Before that it has to cross mentioned target first.
This is just a view not a recommendation to trade. Do your own analysis before taking any trade.
TITAGARH