Chart analysis in Weekly time frame:
Pattern: Basing pattern is formed in 5.5 years.
Breakout: BO of ATH and Basing pattern and re-test of breakout is also performed.
Volume: Volume spike is there during BO and the volume is above Moving Average.
Trade setup:
Entry price: 345.7
Stop loss: Below previous ATH 304.7
Target 1: 369.3
Target 2: 407.55
...
Chart analysis:
Pattern: Basing pattern is formed. Consolidation might happen near breakout zone after a big rally.
Breakout: Basing pattern is broke the All Time High (ATH) price after 16 years.
Volume: Volume action is clearly visible near breakout zone.
Trade setup:
Entry price: Close of 148.40 price break candle.
Stop loss: Below Low of price...
Chart analysis:
Pattern: Basing pattern is formed. Currently, consolidation is happening near breakout zone.
Breakout: Basing pattern is about to breakout the All Time High (ATH) price after 1.5 years .
Volume: Volume action is clearly visible near breakout zone.
Trade setup:
Entry price: Close of 950.05 price break candle.
Stop loss: Below 866
...
Did it just break the Jan 2015 price level !
If it can sustain this, 350 - 388 could be probable price levels that can be seen.
SL around 199
Please note results / earnings will be declared tomorrow for this stock and also the upcoming interim budget on Thursday, so expect some volatility.
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To improve is to change; to be perfect is to change often.
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