Varroc ....Bullish Butterfly Harmonic Pattern seen ....
Bullish Butterfly Harmonic Pattern formation is seen in VARROC. From a long term perspective analysis is shared here.
Why Now this pattern is important :
From a daily chart retest of 271 levels (very important support zone) is seen.
.236 levels tested on upside and came down
20 MA is touched and is now a bit far away
In weekly chart, last two candles forming 2 Crow candle stick pattern (not completed yet)
Vol is increasing
What probably can happen next :
Scenario 1 : If the retest is successful then the stock can go up to levels ... 302/336/383/443/477
Scenario 2 : If the retest fails then the stock can go down up to levels ... 240/197/174/153/128
Why Now this pattern is important :
From a daily chart retest of 271 levels (very important support zone) is seen.
.236 levels tested on upside and came down
20 MA is touched and is now a bit far away
In weekly chart, last two candles forming 2 Crow candle stick pattern (not completed yet)
Vol is increasing
What probably can happen next :
Scenario 1 : If the retest is successful then the stock can go up to levels ... 302/336/383/443/477
Scenario 2 : If the retest fails then the stock can go down up to levels ... 240/197/174/153/128
Comment:
0.236 levels acting as good support
Comment:
333.5 high today
Comment:
Scenario 1 following... such a beautiful chart