Affle:- The stock is showing head and shoulders pattern, the stock is going to breakout soon.
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Following points are observed:
1. IH&S on larger TF
2. BO on DTF
Can be bought on some retracement around 1200-1220
with SL below Right shoulder - 1140 closing basis.
DISC: Please consult your financial advisor before investing.
Price tested the horizontal resistance multiple times but the resistance is unable to push the price away.
The price continues to mark higher lows into the resistance to a point that a narrow range is established just below the resistance line.
The breakout of the narrow range is accompanied with the breakout of the horizontal resistance.
Affle is constantly making higher highs and higher lows. Price is forming an ascending triangle, which is form of a bullish set up.
Interpretation: Price moving high in a narrow range, increase in share price means that buyers are interested in buying a stock even at increasing price, which indicates a bullish anticipation in buyers.
Price is also showing 2...
Good looking chart with Triangular pattern and retraced the fib level 0.618 reversed.
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I am not responsible for any profit/loss incurred due to this Idea.