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Rectangle

CenterPoint Energy Inc. Based on Rectangle Pattern 1. Pattern Analysis - Pattern: Rectangle Pattern - Timeframe: 3 Years - Description: CenterPoint Energy has been trading in a well-defined Rectangle pattern with horizontal resistance at $31.50 and support at $24.00. This extended consolidation phase reflects a balance between buyers and sellers. The stock has recently approached the upper resistance, indicating the possibility of a breakout, which could signify the start of a new bullish trend. 2. Volume Analysis - During the Rectangle Formation: - Volume remained relatively muted during the consolidation, a common characteristic of Rectangle patterns as uncertainty dominates the market. - Current Volume Trends: - Recent sessions show a rise in volume as the price approaches the resistance level. This increase in volume suggests accumulating interest among buyers in anticipation of a breakout. 3. Price Action Analysis - Resistance Levels: - $31.50 acts as a strong horizontal resistance. A decisive breakout above this level, accompanied by strong volume, would confirm a bullish breakout. - Support Levels: - $24.00 serves as the base of the Rectangle pattern and is a critical long-term support level. - Intermediate Support: $28.00, based on prior price action, may act as a pullback zone if the breakout occurs. - Candlestick Behavior: - The recent candlestick at the resistance zone is bullish with a strong close, suggesting upward momentum. However, confirmation is needed with a breakout candle and increased volume. 4. Validation of Bullish Signal - A confirmed breakout above $31.50, validated by significant volume, would signal the start of a bullish trend. This would mark an end to the prolonged consolidation and indicate a shift in market sentiment in favor of buyers. 5. Target Setting - Target Projection: - The height of the Rectangle pattern is $31.50 - $24.00 = $7.50. - Adding this height to the breakout point gives a target of $31.50 + $7.50 = $39.00. - Incremental Targets: - Target 1: $35.00 (+11%) – A short-term psychological and technical level. - Target 2: $39.00 (+23%) – Full pattern projection. 6. Entry and Stop Loss - Entry Strategy: - Primary Entry: Above $31.50, following confirmation of the breakout with sustained volume. - Alternative Entry: On a pullback near $28.00, provided the breakout holds. - Stop Loss: - Place a stop loss at $28.00, below the breakout zone, to safeguard against a failed breakout. 7. Trade Setup Summary - Entry Levels: - Above $31.50 on breakout confirmation. - Near $28.00 on a pullback after breakout confirmation. - Targets: - Target 1: $35.00 (+11%). - Target 2: $39.00 (+23%). - Stop Loss: $28.00. 8. Final Notes The Rectangle pattern breakout on the weekly chart presents a significant bullish opportunity. The alignment of technical levels and rising volume supports the setup's reliability. The stock's proximity to resistance requires close monitoring, and traders should await confirmation through a breakout candle with strong volume. This trade offers a favorable risk/reward ratio with a well-defined entry, stop loss, and target levels, making it suitable for swing and positional trading strategies.
NYSE:CNPLong
by Mr_Chartist_
Expand Energy Corporation Based on Rectangle Pattern 1. Pattern Analysis - Pattern: Rectangle Pattern - Timeframe: 2.8 Years - Description: Expand Energy Corporation has been trading within a well-defined Rectangle pattern, with horizontal resistance at $98 and support at $68. This prolonged consolidation phase represents a balance between buyers and sellers, with neither side dominating. The recent breakout above $98 signifies a potential end to this consolidation and the start of a new bullish trend. 2. Volume Analysis - During the Rectangle Formation: - Volume remained relatively low during the consolidation, which is a typical characteristic of Rectangle patterns. The lack of significant volume reflects reduced volatility as the stock traded within the defined range. - Breakout Confirmation: - A substantial increase in volume accompanied the breakout above $98, validating the bullish breakout. This surge in volume indicates strong buying interest and confirms the breakout’s reliability. 3. Price Action Analysis - Resistance Levels: - $98 served as the upper boundary of the Rectangle pattern. The recent breakout above this level suggests a bullish continuation. - Support Levels: - $68 represents the lower boundary and long-term support of the Rectangle pattern. - Intermediate support at $88, derived from the recent price action, is likely to act as a pullback zone if the price retraces. - Candlestick Behavior: - The breakout candle is a strong bullish candlestick with a long body, indicating decisive upward momentum. The absence of significant upper wicks suggests minimal selling pressure at the resistance. 4. Validation of Bullish Signal - The breakout above $98, accompanied by strong volume, confirms the bullish signal for the Rectangle pattern. This breakout indicates a shift in market dynamics, with buyers gaining control and pushing prices higher. 5. Target Setting - Target Projection: - The height of the Rectangle pattern is $98 - $68 = $30. - Adding this height to the breakout point gives a target of $98 + $30 = $128. - Incremental Targets: - Target 1: $110 (+12%) – A short-term target based on psychological resistance. - Target 2: $120 (+22%) – A medium-term level aligning with intermediate technical levels. - Target 3: $128 (+30%) – Full pattern projection. 6. Entry and Stop Loss - Entry Strategy: - Primary Entry: Above $98 following confirmation of the breakout with sustained volume. - Alternative Entry: On a pullback near $88 if the price consolidates before resuming its uptrend. - Stop Loss: - Place a stop loss at $88 to protect against a failed breakout. If the price falls below this level, it would invalidate the immediate bullish outlook. 7. Trade Setup Summary - Entry Levels: - Above $98 on breakout confirmation. - Near $88 on pullback support. - Targets: - Target 1: $110 (+12%). - Target 2: $120 (+22%). - Target 3: $128 (+30%). - Stop Loss: $88. 8. Final Notes The Rectangle pattern breakout on the weekly chart suggests a strong bullish move is underway. The alignment of technical breakout levels with a volume surge supports the reliability of the setup. Traders should monitor volume and price action closely to confirm the breakout’s sustainability. This trade setup offers a favorable risk/reward ratio with clear entry, exit, and stop-loss levels, making it suitable for medium- to long-term trading strategies.
NASDAQ:EXELong
by Mr_Chartist_
Asian paints Funda and 2021 to 2024 distribution TGT-below1600technically from 2021 to 2024 asian paints has seen distribution i think by now smart money has already exited Asian Paints last all quaters has profits around 1100-1200 cr This quater 694 cr which is very massive dip in profits current p/e 52 sector p/e 47 i think asian paints is now no longer market leader so considering these profits constant for next three quaters also then keeping P/e also constant at 50 stock fair price would be 1600 where eps is taken as 32 (Trailing Twelve months) if pe also falls asian paints fair valuation comes around 900-1200 rupees Thats a lot of gap fii hold 15% others hold 8% public around 18% i think asian paints facing severe competition from berger paints grasim indigo paints sirca paints mrf (also has paints ) and many other local players Disclaimer- Just my view and opinion trade at your own risk not an investment advice these are only for educational purposes
NSE:ASIANPAINTShort
by techno_funda_guy
2
Horizontal Breakout in ANANADRATHI NSE:ANANDRATHI #ANAND RATHI WEALTH LTD (1D Chart) Trend: The stock is in an uptrend. View: Bullish Structure: The chart shows a potential upward move, as it is forming a strong horizontal resistance zone and a breakout of 4300+ will give us a good momentum move and once it sustain above the level on day closing basis We can carry it for swing also Entry: 4,300+ Don't enter in spike wait for 5 min candle close. Risk: previous swing low level marked on chart Stoploss Level: 3,987 (Red Line) Targets: 4,521 INR, 4,766(Blue Lines) The Industry outlook is also bullish as in last week the most of stock from this stock broking industry have given breakout and good follow up moves now lets see for #ANANADRATHI Use Proper Position sizing and always follow stop, make sure you study the chart. Keep learning Happy trading.
NSE:ANANDRATHILong
by SANJAYPATIDAR_
ICIBANK: Swing: 1D 16-Oct'24ICIBANK: Swing: 1D 16-Oct'24 ICICI Bank is trading in a channel (marked) for the last several months and is in a uptrend. ADX is 21 (>20). The ADX slope is -ve but seems like the slop is reducing and will turn positive in the coming days. The stock hit the bottom of the channel on 11-Oct24 with a red candle and then on 14-Oct'24 bounced back with green candle. Ideally the close of the 14-Oct'24 candle should have been our buy price but on 14-Oct'24 the stock was trading below 9 SMA On 15-Oct'24 too the stock continued its trend towards the upper end of the channel and closed above 9 SMA. Will initiate trade on y'days close Entry / Target / Exit ATR = 24.25 (15-Oct'24) Entering long @ 15-Oct'24 close 1255.5 Stop loss = 1 ATR below channel (needs to be monitored as the trade progresses) Target = Close to the top of the channel (needs to be monitored as the trade progresses) Exit criteria = Hits StopLoss || Reaches Target || Price goes below 9 EMA Risk:Reward = Unknown since the target and stop loss are yet to be defined. However, it looks like the it would be a 1:1.67 kind of a trade.
NSE:ICICIBANKLong
by ramanarvind
HCLTECH: Swing: 1D 14-Oct'24HCLTECH: Swing: 1D 14-Oct'24 Stock has been in an uptrend since around 27-Jun'24 Starting 02-Sep'24 the uptrend has paused and the stock has been trading in a range. Marked on charts. ADX ~ 17 also confirms range bound trade The stock broke the trend on 11-Oct'24 with volumes greater than 50 SMA. The stock has taken support at 9 day SMA. It also crossed over it just 2 days ago. All +ves Entering long @ 11-Oct'24 close 1839.65 Target = Trading range height + resistance = 102.85 + 1824.35 ~ 1920 Stop Loss = 1 ATR below the resistance = 1824.35 - 39.65 = 1784.70 Exit criteria = Hits StopLoss || Reaches Target || Price goes below 9 EMA Risk:Reward = 1.46:1
NSE:HCLTECHLong
by ramanarvind
1
INFY: Consolidation near ATHThe stock is consolidating neat ATH where as overall IT sector is on the up-move. This stock is just gathering all power to break and sustain it's ATH. Till now there is no closing above the consolidation but once it is there, this stock has all potential to move up to 2500 levels. DISC: The publication idea is just a technical analysis and should not be considered a buy or sell recommendation. Please consult your financial advisor before taking any trade.
NSE:INFYLong
by trade_opportunities
1
Stock Opportunity: Reliance Consolidation BreakoutBack in December 2023, Reliance gave a major breakout after a 2-year consolidation period and has since rallied 23%. Currently, the stock is trading near its previous breakout level, from which it reversed three times in the past, signaling a potential opportunity for further upside. However, investors should be cautious as the stock is trading below its 200 EMA on the daily timeframe. While the fundamentals remain strong, it's essential to keep an eye on technical levels and manage risk accordingly. Stay informed and trade smart! 📊⚠️
NSE:RELIANCELong
by TechnoTrader10
Stock Opportunity: Geojit Finance LtdHey everyone! 🌟 Geojit Finance Ltd. has recently given a multiyear breakout and is now in a phase of range contraction. What's interesting is that volume is dropping, which is typically a healthy sign of consolidation. On top of that, the fundamentals look strong and the company is expected to deliver a good quarter ahead, which could further fuel its momentum. Here's what we’re watching for: 📉 Volume contraction – Signaling reduced selling pressure. 📊 Potential breakout – Keep an eye out for the next move to position ourselves! 💹 Strong fundamentals – Supporting long-term growth potential. I'll be monitoring closely, and it might be a good time to do the same if you're interested. 🚀 #StockMarket #GeojitFinance #BreakoutStocks #InvestmentOpportunity #StockAlert #Fundamentals
NSE:GEOJITFSLLong
by TechnoTrader10
COLPAL RANGE BREAKOUT WITH MASSIVE VOL A range breakout occurs when the price of a stock moves outside a defined range of support and resistance levels. This can signal a potential trend change or continuation, depending on the direction of the breakout. Here are some key points to consider: Identifying a Range Support and Resistance: Identify the horizontal levels where the price has repeatedly bounced off (support) and where it has faced resistance. Consolidation: Look for a period where the price moves sideways within these levels, indicating a range-bound market. Types of Breakouts Bullish Breakout: When the price breaks above the resistance level, it may indicate a potential upward trend. Bearish Breakout: When the price breaks below the support level, it may signal a potential downward trend. Confirming the Breakout Volume: A breakout accompanied by high trading volume is more likely to be genuine. Retest: Sometimes, the price may retest the breakout level before continuing in the breakout direction. This retest can provide a better entry point. Trading Strategies Entry Point: Enter the trade when the price breaks out of the range with significant volume. Stop Loss: Place a stop loss just below the breakout level for a bullish breakout or just above for a bearish breakout. Target: Set a target based on the height of the range added to the breakout point.
NSE:COLPALLong
by Faizgazi
Rectangle Channel Breakout - VESUVIUS INDIAOverview of Company : The company's products include shaped refractories like shrouds, stoppers, pre-cast products, nozzles, and crucibles. It also includes unshaped refractories like castables and taphole clay. It also offers repair and maintenance services for its refractories. Technical Aspects to be learned from this chart : 1. This stock price formed Rectangular channel pattern from almost more than 5 months. 2. Stock gave a powerful breakout with bullish candle closing above 52W indicating bullish momentum in the stock 3. Volume burst gives us additional confirmation to consider the bullish trend. 4. This stock starts it uptrend from 15 april and almost continued to bull run almost a month and started consolidating. 5. Consolidation after a quick run up was always a good sign for the stock to continue its trend. Risk reward ratio : We can expect 2:1 risk reward in this setup. Note : It's always good to wait until the stock price retest the breakout support zone.
NSE:VESUVIUSLong
by Breakout-Ideas
Asian Paints - Consolidating beautifully !!!Asian Paints is a large cap stocks and a market leader in paint industry. It has been consolidating beautifully, and we can see it moving towards ATH. Other factors: 1. RSI is improving 2. Steady volumes showing consolidating in a range 3. High delivery ratio from quite some-time 4. TTM topline and profitability is second best as compared to prior years 5. DIIs have increased stake "Cleaneasycharts" Learning & Earning!!! Cheers!!!
NSE:ASIANPAINTLong
by Cleaneasycharts