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This stock from 28dec till 20 may create a good channel pattern, which was contracting and consolidating.
With a BO on 4 march of inverted HnS or triangle pattern, anything is ok. gave 30% in 2 days.
Means stock BO is a mover fast one :) just have to catch them.
On 15 march stock...
Disclaimer: This analysis is posted as my online journal for educational purposes only. This is not a buy call.
As you can see in HEG's chart above, it has risen 291% in 22 weeks and it has now experienced 3 tight contractions C1, C2, C3, with the C4 currently being in progress.
The C2 contraction was half of first, but the C3 was 18.5%. The last contraction...
🔰 MY thought process :
⭐Elliot waves for the uptrend ended while giving it an ATH now it has broken a serious trendline = downtrend but it's on its monthly support zones which were used to be resistance zones :)
⭐Also at 0.3 fibo so and making a good contraction pattern below the good uptrend line and 50dema, A buy would be initiated if it breaks the consolidation...
After A Quick 55% Move in 3 Weeks. A very Tight Weekly Inside Bar Formed On The Chart Of IIFL. The 10 WMA Was Right Below The Price Making It The Perfect Setup. The Stock Moved 204% in 3 Months From Here After The Breakaway.
Very Fast Triple Digit Returns Were Available Here. One Good Trade !
I've used here 2hrs timeframe to zoom the chart for clear picture of sub waves.
The Primary Four Wave has formed 3-3-3-3-3 Expanded Triangle.
The Five already initiated with gaps and trying to develop a leading contacting triangle. After mature triangle we will see sharp move that can be upward.
BERGEPAINT showing clear pullback move on daily timeframe candle.
Preceding impulsive red candle with a large range followed by a small ranged green candle, hence trade the breakout of the pullback green candle in either direction.
Target 1% in either direction.
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
Price has been ranging & contracting with lower highs and higher lows since 3 days.
The last day has shown a doji with a small range indicating an imminent breakout.
The price may fall and retrace to its dynamic supports or continue its upward trend, thus keeping entry triggers for both circumstances with conservative targets.
NOTE: Trade with confirmation of...
Price is continuously contracting since the last 10 trading sessions and now they have arrived at a very crucial level to watch out for.
Something is really cooking and breakout on either side can be surely seen and you must keep an eye on this stock.
As per my level of thinking the stock should probably go upside after retracing 1% of the move and it will give breakout.