All about Apollo Hospitals.Hey there I am back with another Stock analysis. This time we will discuss in short about Apollo Hospitals.
Here are some pointers about this stock.
Key pointers.
>>The stock, Apollo Hospitals, was in a consolidation phase within an ascending triangle pattern for about 20 months.
>>It recently broke out from this ascending triangle pattern.
>>After the breakout, the stock formed a parallel channel pattern followed by a HIdden trend line but then experienced a breakdown.
>>The stock has retraced back to the breakout area and is currently accumulating.
>>As visible from chart there is a long hidden trend line, where price has retested multiple times.
>>Factors such as sales and profit data might have influenced the stock's fall.
>>The current zone is being viewed as a potential accumulation area.
>>The RSI indicator suggests that the stock is not overbought at all.
Key takeaways.
>>Lot of people make mistake by taking entry just after trend line breakout but they forget to find a hidden trendline.
>>An engulfing pattern can indicate as a potential entry trigger if the market shows bullish movement.
>> we will place stop-loss right under the tringle pattern and put target till long trend line.
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Note: This is for informational purposes only. Do your own research before investing.
