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Angeloneanalysis

Angleone is destined to stage a comeback!Technical Analysis (Weekly Timeframe) ● The stock had previously consolidated and established a Rounding Bottom pattern. ● Following the breakout, the price surged, hitting an impressive all-time high of 3,880. ● However, it then began to decline, ultimately dropping to the support level around 2,000. ● A robust rebound from this support, accompanied by significant volume, indicates that the stock is poised for another upward movement. ● The potential targets to watch for are: ➖ 1st Target - 3,400 level ➖ 2nd Target - 3,880 level. Technical Analysis (Daily Timeframe) ● The daily chart reveals that following the breakout from the Falling Wedge pattern, the price is currently in a consolidation phase, poised for a significant upward movement. ● The trading volume has surged notably in recent days, signalling that big market participants are showing keen interest. Technical Indicators (Daily Timeframe) RSI ● Current RSI of this stock is 61.37, which indicates the strength of buyers. MACD ● MACD line has crossed over the signal line from the below, indicates a robust bullish momentum is in play. ADX & DI ● ADX value surpassing 20 with +DI positioned above the -DI, indicates the strength of the trend.
NSE:ANGELONELong
by GoodluckCapital