I AM A NOVICE LEARNER AND THIS IS NOT A TRADING IDEA
The channel is wide for 400 and the stock may test the mid point of the channel soon.
may come down by 150-200
USE YOUR OWN JUDGEMENT to take any idea to trade
This share is looking weak on chart and is breaking down below the triangle. The motive wave seems to have ended and the trend reversed.
THIS IS NOT A TRADE IDEA
I am a novice learner and am doing analysis on some of the stocks that either I had or have in my portfolio and looking to buy or sell, but this does not mean I am taking this trade.
Use your judgement...
Descending chart pattern is a type of Triangle chart patterns . Descending chart pattern is formed when price is taking a support and forming continuous lower heights. Adequate buy or short area would be after the price gives a breakout . Descending pattern you can short or buy as well . Wait for the price to give a breakout and enter in which ever direction the...
noted points:
1) chart shows , stock is moving in a regular pattern, but got the strong resistance near 760 and hit reversal.
2) now it is near 1st likely support 730 points.
3) there is a chance of moving in the side waves for the next couple of weeks.
4) hold for next 2 to 3 days if it crosses 760 resistance , chance of increase in the points till 850 to...
I am a novice learner and am trying to share some ideas and here I see that
an impulse wave seems to be in progress and the corrective wave 4 is done and the movement should be upwards for wave 5. I am neither suggesting any levels nor timelines but expect a move equal to at least the wave 1
It is on the verge of an Inverse Head & Shoulder Breakout at 445. It could rise till 475-490 (with minor resistance at 455-460 - island reversal zone) as long as it does not breach 435
