QuickHeal: Falling Wedge Pattern This is the Chart of Quick Heal on the daily scale, A falling Wedge pattern did appear and the Prices breaks out downward.
Though Falling Wedges patterns are supposed to breakout upwards, but here it breaks out downward.
This pattern forms over a period of approx 6 months.
Break out came with a gap , hence signalling price may go down further.
Support for the stock is at 210-209 levels.
And if i look at harmonic pattern
i could see a probability of Bat pattern ,suggesting a support zone near 211-210 levels
Hence , one should keep an eye on these levels to determine the further price action in this stock
