FLAG
MAZAGON DOCK SHIPBUILD - InterestingThe stock is moving within a large Parallel Channel almost ready to break above.
Currently a flag formation and inside that a double bottom as well as an Inv Head and Shoulder has been spotted making it even more potent for a breakout.
The volumes show a good accumulation and the MACD would turn positive from very healthy levels with price on the way up giving room for a larger up move.
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Swing trade Setup in MCX!Swing trade Setup in MCX! for mid term with 15% gains.
Volumes picking up.
Massive flag breakout on weekly time frame.
Successfully Rested the breakout levels.
Fundamentally strong.
Buying level - 1575-1605
Target - 1575-1605
Stop Loss - 1574
Targets are based on charts.
Disclaimer: Chart, data and levels for study purpose only. I am not a financial advisor. Use your intelligence before investing.
Pennant Breakout | TEJAS NETWORKS 🌐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 with large volume while the pennant have weakening volume.
Flag Pattern Identification | Moving Average | Entry Guessing chart patterns in Higher timeframes & then moving gradually to lower timeframes for Confirmation & Entry points.
Technical Indicators which I am using here is Moving average.
1. First looking at the weekly and daily timeframe, I confirmed that stock is trading above the Moving average. Also, there is an impulsive buying followed by some correction. This hinted towards a FLAG PATTERN.
2. To confirm the flag pattern and specifically the entry point, which will be candles breaking out the Moving Average line, I analyzed 4H and 1H timeframes.
3. Once I see a candle breakout at the Moving average line in an uptrend during a correction phase, I place my entry for BUYING.
** Setup stop loss and Target as per your own trading style**