Tesla has been trading below 200 MA for good period of time & has formed Bearish Pennant price action pattern which indicates a Bearish continuation trend signal. Using Fibonacci we also plotted that, Tesla is not able to break its 50% retracement level which infact is exactly at the price level where 200MA is standing. It’s a double & strong reversal sign. Also...
Can you see the Chart is speaking very clear?! - 38.2% Fib retracement done from the Tops, and the Pennant was Counter trend in nature with a 3 Wave Advance - On 10th November, we got confirmation to Short, Price also closed below 5 Day EMA and it has turned down sloping now - Also notice how Price cannot sustain above Anchored VWAP from the Tops - Price is...
A pennant is a continuation chart pattern. This is lupin ltd hourly chart forming a bearish pennant. So if breaks down side may give a good downside move. NSE:LUPIN
IT MAY SHOWS BEARISH BREAKOUT BELOW CHANNEL.....
Bearish Pennat pattern: SL:455, Target 1: 393, Target 2: 260 Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
If closes below 1100 (i.e. a breakdown), Sell: 1095, SL:1128, Target1: 1072 Target 2: 935 levels Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.