The stock has corrected 35% from top and now have seen a bounce back of good 15%, and now have been consolidating in a tight range on small timeframes. If breaks the first level on upside then next two marked levels can be seen on charts.
Levels as mentioned on the chart with probable Price Action to follow.......
Better Insight, Better Trade Execution
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. ''I HAVE A RIGHT TO BE WRONG''
"Always Respect Risk"
It can be a possible opportunity for swing trade in SONATSOFTW..
However, for minimal risk I would buy if price closes above 735 (maybe on 22nd Jun/23rd Jun)
Timeframe - expected to reach target before 30th Jun
Gave a massive breakout. It is not wise to jump into the trade right away since SL will be huge.
Traders with FOMO can add 30% of their usual allocation at this level and add more if there is retest of the previous resistance zone.
Tgram: Stocks 101
Stock has consolidated enough on important levels and looks pretty much ready to give an Inverse H&S breakout above the mentioned levels, a buy is strongly recommended with a stop-loss mentioned on charts for the respective targets. Targets may look too far away but we've seen stocks doing a stellar job and achieving their targets in no time, just chip in!!!
Stock has given a breakout over it's neckline of the inverse head and shoulders pattern, with high volumes and buying crossovers on various oscillators. Stock looks to be in uptrend and buying will remain intact. Pitch right in and go long with the mentioned stop-loss, for the mentioned targets.