WE CAN SEE AN DESCENDING TRIANGLE PATTERN ON DAILY TIMEFRAME.
IT SUGGEST THAT THE STOCK MIGHT MOVE DOWNWARDS.
SO THERE CAN BE AN SHORTING OPPORTUNITY SOON.
NOTE - THIS IS JUST FOR EDUCATIONAL PURPOSE.
IF ANY SUGGESTIONS PLEASE LET ME KNOW IN THE COMMENT BOX.
Please follow these rules before taking a trade :
1. The breakout candle didn't have any volume (Checked).
2. It is at a major resistance (Checked).
3. The up-trend has to be broken and retested (Checked).
4. Take the trade only after the above these.
Do let me know if any doubt is there.
M&M broke its resistance and retraces to lower levels. In previous 2 session has broken the trend with good volume. It seems we can see some good movement at upper side in coming session. Buy above 640 (if sustained)
M&M finance is trading at a critical level of 132, which is a confluence of 20 and 50 EMA. Also, it is trading at the lower end of rising channel, from which a bounce can be expected. Keep a strict stop loss between 125-127 for first target of 142, translating into a potential upside of 6%
Also, while the earlier breakout was with high volumes, the fall was made...
M&M has broken long term trend line with solid bullish candle and volume . If his sustains above 500 in Monday's session, then it should move toward 550/570 targets in coming days/week.
Market are very volatile these days, either hedge your position or take intraday trades
We follow simple price action process to trade short with high probability. Price action is...
I took a pilot position at 135.6 and I will be looking to add at minor corrections.
Technical: stock quickly recovered from recent COVID-19 crash lows. It has surged around 100% from its low and held its gains. price wise, it looks strong
This stock shows decent sales and profit growth.
5 years of sales growth - 8.28%
5 years of profit growth -...
Channels are used broadly by technical traders to identify and follow the trends of securities over time.
channel is one such charting pattern that technical analysts will use to evaluate the trend of a security.
In general, channels can be used to pinpoint optimal support and resistance levels to buy or sell securities.
Head and Shoulder:
In technical analysis,...