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Head_and_shoulder

Series of Bullish Patterns in CRAFTSMANCRAFTSMAN stock chart has formed a series of bullish patterns. Let's break it down: 📈 Inverse Head and Shoulders Pattern 📈 ➤ The inverse head and shoulders pattern formed from January 2023 to May 2023 at all-time high levels. ➤ Inverse Head and Shoulders is generally considered a bullish signal. 📈 Breakout and Retest 📈 ➤ On May 31st, 2023, a breakout occurred for the inverse head and shoulders pattern with good volume, indicating a potential upward move. ➤ The next day, on June 1st, a retest of the breakout level occurred at the neckline of the inverse head and shoulders pattern, further strengthening the bullish case. 📈 Ascending Triangle Pattern 📈 ➤ Following the retest, an ascending triangle pattern formed on the lower 15-minute time frame. ➤ An ascending triangle is a bullish continuation pattern, indicating potential upward momentum. 📈 Based on these patterns, the overall technical outlook appears positive. The inverse head and shoulders pattern followed by a breakout, retest, and subsequent formation of an ascending triangle suggests potential upward momentum in the stock's price. Consider planning a buy entry upon the breakout of the ascending pattern if you missed the entry at the retest of the neckline. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. I am not a SEBI registered analyst. Always conduct your own research and consult a qualified professional before making any investment decisions. 💬 Feel free to share your observations and insights in the comments section. Your comments and feedback are greatly appreciated. Don't forget to like this analysis if you found it helpful! 🤝 Thank you for your continuous support, likes, follows, and comments. Your engagement keeps me motivated to consistently provide valuable content. Follow me on TradingView for more articles and trade setups: in.tradingview.com 🚀🔥 Trading is a journey. Stay motivated and keep learning! 🔥🚀 Technical Terms Explained : Inverse Head and Shoulders Pattern : A bullish reversal pattern characterized by three successive troughs, with the middle trough (the head) being lower than the other two (the shoulders). It indicates a potential trend reversal from bearish to bullish. Breakout : When the price of an asset moves above a significant level of resistance, signaling a potential upward move. Retest : After a breakout, when the price retraces back to the breakout level, acting as a test to validate the breakout's strength. Ascending Triangle Pattern : A bullish continuation pattern characterized by a series of higher lows and a horizontal resistance line. It suggests potential upward momentum.
NSE:CRAFTSMANLong
by AfnanTAjuddin
"BankNifty at 44,483: Spotting the Head & Shoulders Pattern Real Time Application Date - 29th May / 30th May 2023 Head & Shoulder has unfolded on 29th / 30th May 2023 for Bank Nifty Index & Neckline is already broken to downside & we are waiting for break below 44250 -which is another key support Disclaimer: The information provided in this update is for educational purposes only and should not be considered as financial or investment advice. Trading and investing in financial markets involves risks, and past performance is not indicative of future results. Always conduct thorough research and consult with a qualified financial professional before making any investment decisions. The user assumes all responsibility for their investment actions. ------------------------------------------------------------------------------------------------------ Chart Pattern - Head & Shoulders It is a popular chart pattern used in technical analysis to identify potential trend reversals in financial markets. It is named after its visual resemblance to a head with two shoulders. This pattern typically occurs after an extended uptrend and signals a possible reversal to a downtrend. The Head & Shoulders pattern consists of three main components: Left shoulder: Forms as the price reaches a peak during the uptrend, followed by a temporary decline. Head: Subsequent rally with a higher peak compared to the left shoulder. Right shoulder: Another decline, usually lower than the head but similar in height to the left shoulder. The pattern is considered complete when the price breaks below the "neckline," which is a support level connecting the lows of the left shoulder, head, and right shoulder. The breakdown below the neckline acts as a confirmation of the pattern and suggests that selling pressure has become dominant. Here are the key characteristics and implications of a Head & Shoulders pattern: Reversal Signal: The Head & Shoulders pattern is a bearish reversal signal, indicating a potential shift from an uptrend to a downtrend. Traders and investors often interpret this pattern as a signal to sell or take short positions. Volume Confirmation: Volume analysis plays a crucial role in confirming the validity of the pattern. Generally, higher trading volume is observed during the formation of the left shoulder and the head, while the volume tends to decrease during the right shoulder. A noticeable increase in volume during the breakdown below the neckline adds credibility to the pattern. Price Target: The Head & Shoulders pattern provides a price target for the subsequent downtrend. To estimate the target, measure the vertical distance from the neckline to the top of the head and subtract it from the breakdown level. This projected distance is often considered as the potential downside target. Failure to Confirm: It is essential to note that not all Head & Shoulders patterns result in a significant trend reversal. Sometimes, the pattern may fail to confirm, and the price might continue its previous uptrend. Traders should always wait for confirmation through the breakdown below the neckline before taking any trading actions. In conclusion, the Head & Shoulders pattern is a widely recognized and studied chart pattern in technical analysis. Traders and investors utilize this pattern to identify potential trend reversals and make informed trading decisions. However, it is essential to combine this pattern with other technical indicators and analysis techniques to increase the probability of accurate predictions.
NSE:BANKNIFTY
by WaveTalks
3
GSFCGSFC:- Head and shoulder pattern has formed, wait for the breakout on the hourly chart, till then keep your eye on the stock. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:GSFCLong
by AjayDhakad_Keep_it_simple
TRITURBINETRITURBINE:- Head and shoulder pattern is formed, and breakout is also found, if we want to plan something then we have to wait for retest because breakout candle is very big, till then keep your eye on the stock. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:TRITURBINELong
by AjayDhakad_Keep_it_simple
INTELLECTINTELLECT:- Head and shoulder pattern has formed, wait for breakout, till then keep your eye on the stock Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:INTELLECTLong
by AjayDhakad_Keep_it_simple
6
Head and Shoulder in Sun Pharma (09/05/23)Perfect Head and shoulder break down can be there in the Sun Pharma stock. It is trading around the neck line. Sun Pharma is in the sell zone, as the market has retest the recent 50% fib levels. This stock never fails to respect the fibonacci levels. It has been consolidating and on the daily charts it has formed a gravestone doji. Stock is near it 200 DMA and if it breaks down below the zone the moving average will also be passed. Stop loss and target levels are provided in the chart itself. Wait for the price action near the price levels before entering the markets.
NSE:SUNPHARMA
by TheMamboMomentum
APTECHTAPTECHT:- Head and shoulder pattern is formed on weekly chart, breakout candle is also strong, wait for retesting, if you want to plan something, take care of all time high 449.75, keep an eye on the stock Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:APTECHTLong
by AjayDhakad_Keep_it_simple
BHARTIARTL UNDER BEARS SPECTRUM !!!!Chart Patterns insist me the above titled opinion REASONS 1. BhartiArtl has been trading inside a Ascending channel pattern(bright red & green trendlines )and right now down swing move is under process(in the form of descending channel) 2. In the weekly time frame , it looks alike a Bearish pennant formation and given breakdown out of consolidation(shown below) 3. In the daily timeframe , Head & Shoulders pattern too visible (shown below) 4. There is Consolidation zone(in form of a rectangle box). 5. SL can be day candle closing above 796 (candle escaping out of the box) 6. Target - 730,717,700 7. Strong support down near 675 levels(rectangle box shown) Let's see how it moves!!! NOTE - Just sharing my view....not a tip nor advice!!!
NSE:BHARTIARTLShort
by mmjimm