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Rising Wedge

TATA CONSUMERS RISING WEDGE PATTERNRISING WEDGE PATTERN WEEKLY PATTERN ENTRY - 690 STOPLOSS - 725 TARGET - 555 Rising Wedges are bearish pattern Rising Wedge Patterns forms with Higher Highs and Higher Lows. Rising Wedge pattern basically forms in two shapes - 1) If rising wedge pattern forms in an uptrend it will make reversal and 2) If rising wedge pattern forms in a downtrend it will make continuation. The higher highs and the lower lows along makes a trend resistance and trend support. When breakout occurs downside, price breaks the trend support line
NSE:TATACONSUMShort
by ani147
USDCAD tease falling wedge breakout near multi-month lowUSDCAD reverses Friday’s losses inside a bullish chart pattern, falling wedge, on the daily play. However, buyers need a clear upside break of 1.2100, not to forget the previous support line from March 18 close to 1.2180, to retake controls. Following that, the USDCAD rally towards 50-DMA level near 1.2285 and then to the previous month’s top near 1.2350 can’t be ruled out. It’s worth noting that the RSI is gradually recovering from the oversold area and the bullish formation is near the lowest since May 2015, which in turn amplifies the breakout in favor of buyers, if sustained. Meanwhile, 1.2050 and 1.2030 can entertain USDCAD sellers ahead of testing them with the 1.2000 psychological magnet. Also likely to challenge the pair bears is the stated chart formation’s support line near 1.1990. During the quote’s further weakness below 1.1990, May 2015 lows near 1.1920 become the key as a clear breakdown of the same will make USDCAD vulnerable to slump towards March 2014 high near 1.1280.
Long
by MTradingGlobal
Rising Wage Pattern Breakout - Retesting on ProcessGland Pharma is involved in the business activities of Manufacture of medicinal substances used in the manufacture of pharmaceuticals: antibiotics, endocrine products, basic vitamins; opium derivatives; sulpha drugs; serums and plasmas; salicylic acid, its salts and esters; glycosides and vegetable alkaloids; chemically pure sugar etc.. The Stock broke out a rising wage pattern with good volume. The Stock has corrected from 3500 levels to retest its breakout levels. RSI has also settled and hovering around 60 levels. The Company is one the best among pharma sector with no real peers in the Indian Market. The Company is debt free with string Balance Sheet. The Company posted excellent results for last quarter of FY 21 with an increase in EPS and Sales of 27% and 40% YoY respectively. Mutual Funds and FPI are holding around 22% stake in the Company. Accumulate around 3100 levels after bounce. For Targets and SL refer chart. Feel Free to share your feedback and queries. Do visit my profile for earlier posts and follow me so that u don't miss any other upcoming posts.
NSE:GLANDLong
by mastermukund4