I'm bullish based on the below technical analysis factors.
i) Double Top is completed
ii) Channel bottom is gazed and moved upwards from it.
Entry Pint - 41.5
Target - 48.05, 55.4
SL - 38.5
LONG RISK/Reward Ratio - 4.54
Channels are used broadly by technical traders to identify and follow the trends of securities over time.
channel is one such charting pattern that technical analysts will use to evaluate the trend of a security.
In general, channels can be used to pinpoint optimal support and resistance levels to buy or sell securities.
Head and Shoulder:
In technical analysis,...
The separation between the two trend-lines needs to be wide enough if you want to trade inside the Price Channel Pattern.
If this is the case, you can buy at the channel support level and sell at the channel resistance level.
This is a more powerful and fair way to gauge what the price is doing.
This is because you’re looking to determine upwards and downwards...
A parallel channel is a continuation pattern that slopes up or down and is bound by an upper and lower trend line.
The upper trend line marks resistance and the lower trend line marks support.
Channel Line: The line drawn parallel to the main trend line is called the channel line.
A key concept of technical analysis is that when a resistance or support level is...
IT WAS TRADING IN AN OLD CHANNEL AS MENTIONED IT WAS BROKEN ON THE UPSIDE BUT NOW IT HAS A NEW CHANNEL AS MENTIONED IT SHOULD NOT BREAK THE UPPER CHANNEL LINE OF THE NEW CHANNEL IF IT BREAKS AND CLOSES ABOVE 475 TARGET FOR LONG IS 483(LONG TERM UPPER CHANNEL LINE) APPROX MOST LIKELY IN A CHANNEL STOCK TOUCHES UPPER LINE AND COMES BACK TO LOWER LINE SO TARGET FOR...