Energy sector stocks have shown support reversal or breakouts in recent times.
Analyzing CNXENERGY, we can see that sector has retested its breakout trendline. Looks bullish !
📈 IEX ( Indian Energy Exchange ) 📉
Today broke out from a downtrending Trendline Zone on closing basis.
On Buy Side I am looking for Targets of 238, 266 followed by 295.
StopLoss should be kept at close below 216.
It offers 1:5 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and...
Disclaimer: I don't own shares of XLE . This analysis is not a trading or investing recommendation & is only for educational purpose.
1. XLE has been going up slowly & steadily since Mar’20 after putting a bullish 1-2-3 pattern marked by the successful break of point#2 of the pattern.
2.In Jan 2022 price crossed a major downtrend resistance line (dotted line)...
The energy sector of our market seems to have given a breakout, it has been in a consolidation for a while now and has shown a healthy correction of 50% according to fib retracement.
The pattern it formed was an ideal flag and pole pattern which is a pattern that gives a good momentum when its broken and gives a rally of equal to it's last rally.
The RSI stands...
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis.
What is the Trendline Theory?
A trendline helps technical analysts determine the current direction in market prices. ... If the analyst draws a line between all three price points, they have an upward trend. The trendline drawn has a positive slope and is therefore telling the analyst to buy in the direction of the trend.
Lets us understand how Trendline Theory...
We have seen inverse head & shoulder pattern on daily chart of Hind petro share. A very high probability setup to take long entry. Buying range are given in the graph. RSI above 60 forming +ve divergences. Good risk to reward trade. This is for your educational purpose only.
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