Description
VOLTAS has been moving inside a rising channel for several months — creating higher highs and higher lows.
Both the top and bottom trendline's are respected multiple times (marked by circles), proving this channel is valid and strong.
Recently:
The stock fell from the top of the channel
Came down and touched the bottom support line again (blue circles at lows)
That support has always given a bounce previously
→ so buyers may step in again here
Also, a small falling channel has formed inside this bigger up-channel.
Price is now breaking out of that smaller falling channel, which hints at a possible bounce start.
VOLTAS has been moving inside a rising channel for several months — creating higher highs and higher lows.
Both the top and bottom trendline's are respected multiple times (marked by circles), proving this channel is valid and strong.
Recently:
The stock fell from the top of the channel
Came down and touched the bottom support line again (blue circles at lows)
That support has always given a bounce previously
→ so buyers may step in again here
Also, a small falling channel has formed inside this bigger up-channel.
Price is now breaking out of that smaller falling channel, which hints at a possible bounce start.
Trade active
Voltas +2%Price Action always tells the truth.
Trust the structure, not emotions.
SiripiVenu
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.
SiripiVenu
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.