BBTC - Swing Trade Analysis - 12th August #stocksBBTC - BOMBAY BURMAH TRADING (1D TF) - Swing Trade Analysis given on 12th August, 2024
Pattern: FALLING WEDGE BREAKOUT
- Resistance Trendline Breakout - Done ✓
- Pullback Candle from Weekly Support Zone - Done ✓
- Volume Buildup at Resistance Trendline - Done ✓
- Demand Zone Retest & Consolidation (for a small SL and a better RR) - In Progress
* Disclaimer
Bombayburmah
BBTC: Keep an eye on this multiyear breakout stock(1) The price at the 2050 level was strongly rejected in the past, leading to an 63% decrease.
(2) Eventually, the price found support near 690 and began to rise.
(3) However, it was rejected again near 1570 and fell.
(4) The price surged after a notable increase, breaking through its trendline resistance and carrying on with its upward momentum.
(5) At long last, after nearly half a decade, the price managed to shatter its resistance barrier and hold its ground above it.