Is Wipro’s consolidation completed ?
Updated
Is Wipro’s consolidation completed ?
Reasons/Traits :
• Gartley Bullish Harmonic Pattern formation is seen
• Todays close is exactly at 0.5 Fib retracement level of last swing high and also taking a support of current up trend
• Price took support of 20 EMA today
• Stock is still bullish as Bulls are in control as per indicators
What can happen next :
Scenario 1 : Stock uptrend to continue and reach 665/675/690/710
Scenario 2 : Downtrend post break down of 0.5 Fib level (654) to reach 640/620/600/580 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Gartley Bullish Harmonic Pattern formation is seen
• Todays close is exactly at 0.5 Fib retracement level of last swing high and also taking a support of current up trend
• Price took support of 20 EMA today
• Stock is still bullish as Bulls are in control as per indicators
What can happen next :
Scenario 1 : Stock uptrend to continue and reach 665/675/690/710
Scenario 2 : Downtrend post break down of 0.5 Fib level (654) to reach 640/620/600/580 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Note
Scenario 1 .. first 3 targets hit as of todayNote
following scenario 2 after scenario 1 ??Note
completed Gartley Bullish Harmonic Pattern
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