Hindustan Unilever has been consolidating in the form of an ascending triangle for more than a year.
This consolidation is now finally broken. I'l leave it to you to decide entry for this LONG journey!
Head & Shoulder pattern observed in HUL. Candle closing below 1740 has made the pattern valid. Hence, one can take a bearish view with target @ 1635.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry...
HUL seems to be in a commonly occurring pattern where there's a flat pattern between two major moves. Now that the recent highs are tested, probability is that the price will test the low again and then make a major upward move. My view is that HUL will dip to retest the lows first and then move up. I would look to Buy, after THE dip.
Analysis:-
- Previous week ending 5th April was bearish for HUL. Then a green Doji on 8th April showing indecisiveness against the bears. This was followed by bullish candles confirming a trend reversal this week.
- This reversal happened exactly at the long term trendline as shown.
- Stock moved in downward channel for past two months. Finally appearing to...
HINDUSTAN UNILEVER DAILY, took support at 100 sma for 2 times finally broke yesterday.
It took support at 200 sma for 2 times now again sitting at 200 sma with big red candle.
Sign for bearishness.
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