ICXBTC - coin following Broadening pattern.
ICX has Successfull break the Down Channel patter
Now following the Broadening pattern.
As per the Fibonachi Level I have Mantion 2 Target
First one is for Mid term
And Second for long Term
We have Two support As Mantion on the chart
Note: This is only for Educational Purpose this is not an Investment advice....
Identifying the reversal and its timing is quite difficult and risky but sometimes its worth to take small risk. The stock is clearly in downtrend but it is forming Broadening Bottom reversal pattern and RSI is showing divergence. One can buy the stock by providing the SL of low of yesterday. If it works it could reward well. Being a volatile stock one can also...
The stock has nicely formed Broadening Top (Megaphone) Pattern and gave the breakout today. It has also broken the medium term resistance of 1274. Although it is trading above another resistance of 1330 but still a threat on the onward journey. One can use the setup to go long by providing a SL of 1310 on closing basis.
Disclaimer : All stock recommendations and...
The Stock has nicely formed the "Descending Broadening Formation" which could be used for trading. How to trade it : if it breaks the upper horizontal line and stay there for some period one can go long. If it gives false breakout and come back immediately to the the upper line one can short the stock. Good Luck
It is been observed that the price action is consolidating at the bottom in a broadening wedge pattern. It is at the make it or break it situation. It has good support at 310 levels and then 290 levels. Currently, at a look risk and high potential profit scenario. Now, today's closing shall matter a lot.
Target 1: 322
Target 2: 330
The stock is in uptrend so one should follow the trend until it changes and try to enter long at appropriate level. The stock has formed a Broadening Formations and yesterday's Green bar and today's trading above it are indicating a potential long at this level. Stop Loss closing below the lower line.
The pattern is also called Megaphone. It has also formed 3L-Reversal at the top so one can short the stock wherever stop loss of 139.9 on closing basis is affordable. If the pattern works one can expect the price to touch the lower line around 112. Safe trader can book the profit on fib level that too offers a good risk to reward ratio