Maruti gave a reverse flag breakout on Friday and What a move then
Alerted from 6910 to 7300 till now..
This is power of breakout..
#Maruti abv 6910... Keep tracking will enter
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TEJASNET daily: Looks good for more upside at CMP
1) Pennant Pattern BO
2) Optical and data networking products company
A pennant is a type of continuation pattern formed when there is a large movement in a security, followed by a consolidation period followed by a breakout movement in the same direction as the initial large movement.
The initial move is met...
The stock is currently trending in a flag pole pattern and looks to be a good break out candidate.
Results are expected tomorrow and are expected to be good.
Other Supporting Technicals:
RSI - 64 (bullish but not overbought)
ADX - 26 (suggesting strong trend)
MACD is above its center and signal Line, this is a bullish indicator.
This stock seems to touch its previous 52W high soon, and atleast reach the all time high of 680.
High volumes seen in the counter to support the uptrend.
Supported by Other Technicals:
RSI - 64 (bullish and not overbought)
MACD is above its center and signal Line
ADX - 50 (indicating strong trend)
Interestingly most of the finance stocks are following the same pattern - check on yourself I will post some
Here price making descending channel pattern and it is definitely looking to break up tomorrow.
Raymond chart was bullish for last few days & closed a bit above the previous high's of 810's. There are many aspects one can interpret this chart above :
i) The ranging candle can be considered as Flag or Triangle depending on how you draw your lines & Not to worry, both are fine.
ii) If you don't trade simple patterns, then you can consider this as simple...