Ascending Triangle on MothersumiAscending Triangle pattern on Mothersumi and it will break on upside.
Trade:
Buy above - 329
Target - 340
Stop loss - 320
MOTHERSUMI
MotherSumi: The Confluence ZoneOne can clearly observe: nice rotation of price inside a channel; the wedge formation; and the price bouncing from a support line (red dashed line). Currently the stock has retraced back to an important confluence point at 214-215 zone.
On short side, a break below the confluence zone can take the price to 310.50 and 307.50 levels. Stops would be above 320.
On the other side, the aggressive long entries can be taken at the confluence point with stops below this zone. If one needs more confirmation, staying above 320 can take the stock to 322 and 328 levels.
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Trade safe.
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Bravetotrade
MOTHERSON SUMI - ACSENDING CHANNELThe stock is forming an upward channel.
Look for subsequent opportunities and trade.
Sharing if it helps.
MOTHERSUMI TRIANGLE BREAKOUTIt is been observed on the hourly chart that the price action breaks above the symmetrical triangle indicating a further move up.
Target: 336
Target: 340
Stoploss: 328
Mothersumi Bearish SetupIt is been observed on Hourly chart that the price action breaks from the symmetrical triangle formation and came down and retrace back to the previous support which now acting as resistance. Now, it shall further move down.
Target1: 309
Target 2: 302
Stoploss: 321
Mothersumi is repeating history of todayMothersumi may fall again towards it support of 311 level. it is 50% fibonaci it may close near it.
