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GLOBUSSPR's Chart: Bullish Breakout and Harmonic PatternIn this analysis, we will delve into GLOBUSSPR's chart to evaluate its recent breakout of the falling trendline, the subsequent retest, and the potential bounce from the 200-day exponential moving average (EMA). Additionally, we will explore the presence of a 5-O Harmonic Pattern on the chart. Based on the technical analysis, we will provide insights into a potential trading opportunity. Let's proceed with the analysis. Chart Analysis: Upon reviewing the provided TradingView chart for GLOBUSSPR, we can identify several key technical factors that may influence the stock's price action. Breakout and Retest of Falling Trendline: The chart indicates that GLOBUSSPR experienced a breakout of the falling trendline approximately 10 weeks ago, followed by a successful retest of the breakout level. The retest confirms the previous resistance has now turned into support, signaling potential strength in the current uptrend. Approaching Support at RSI: The Relative Strength Index (RSI) is approaching support, indicating that the stock's momentum is stabilizing. RSI is a momentum oscillator that measures the speed and change of price movements. A potential bounce from the RSI support may add to the bullish case for the stock. Potential Bounce from 200-day EMA: GLOBUSSPR is currently trading near the 200-day exponential moving average (EMA), which is a widely followed indicator for determining long-term trends. The stock may find support and potentially take a bounce from this moving average, further supporting the bullish outlook. 5-O Harmonic Pattern: The chart shows the formation of a 5-O Harmonic Pattern. Harmonic patterns are geometric price patterns that indicate potential trend reversals or continuation. The presence of this pattern adds to the bullish technical signals on the chart. Trading Opportunity and Targets: Based on the technical analysis, a potential trading opportunity arises with GLOBUSSPR's breakout, successful retest, approaching RSI support, and the presence of the Harmonic Pattern. Traders may consider initiating a long position above ₹978, with a stop loss set at ₹923 to manage potential risks. For the targets, the first target is ₹1033, which may act as an immediate resistance level based on the chart's price action. The second target is ₹1088, indicating potential further upside. Conclusion: The technical analysis of GLOBUSSPR's chart suggests a bullish outlook with the breakout of the falling trendline, successful retest, approaching RSI support, and the presence of the Harmonic Pattern. Traders may consider entering a long position above ₹978, with stop loss and targets as mentioned above. Please remember that the stock market carries inherent risks, and past performance is not indicative of future results. It is advisable to conduct thorough research and consider consulting with a financial advisor before making any investment decisions. Additionally, traders should closely monitor the stock's price action and consider implementing appropriate risk management strategies.
NSE:GLOBUSSPRLong
by yaashul
Voltas' Monthly Chart: Support, RSI, and Short-Term Bounce PotenIn this post, we will conduct an analysis of Voltas' monthly chart, focusing on the support level, RSI indicator, and the potential for a short-term bounce. By examining these technical aspects, we aim to provide insights into the stock's current situation and the potential for further upside movement. Let's delve into the analysis and explore the situation. Chart Analysis: Upon reviewing the provided TradingView chart for Voltas, we can observe that the stock is currently at a support level on the monthly timeframe. This support level indicates a price level where buyers are expected to enter the market and potentially lead to a bounce in the stock's price. RSI Support: In addition to the support level, we can also observe that the RSI (Relative Strength Index) on the monthly chart is showing support. The RSI is an oscillator that measures the speed and change of price movements. When the RSI reaches oversold levels (typically below 30), it suggests that the stock may be undervalued and due for a potential rebound. Short-Term Bounce Potential: Based on the support level and the RSI indicator, there is a possibility of a short-term bounce in Voltas' stock price. The bounce could potentially drive the price up to around the 900 level. This level may act as a resistance zone and should be closely monitored for confirmation of a sustained move above it. Further Upside Potential: If Voltas manages to sustain above the 900 level, there is a potential for further upside movement. A sustained move above this level would indicate a break of the resistance zone, suggesting a positive shift in market sentiment. Traders and investors should closely monitor the price action and volume in this region for confirmation of sustained bullish momentum. Risk Management: To manage risk, it is important to set a stop-loss level. In this case, a suggested stop-loss level of 685 is recommended to protect against potential downside moves. Setting a stop-loss allows traders to limit their losses and protect their capital in case the anticipated bounce and upward movement do not materialize. Conclusion: Based on the technical analysis, Voltas' monthly chart indicates that the stock is currently at a support level, with the RSI showing support as well. This suggests the potential for a short-term bounce, with a target around the 900 level. Further upside movement is possible if Voltas manages to sustain above this level. However, it is important to closely monitor price action and volume for confirmation of sustained bullish momentum. Traders and investors should consider these technical factors along with other fundamental and market-related information before making any trading decisions. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions. Disclaimer: The information provided in this blog post is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
NSE:VOLTASLong
by yaashul
SPELS' Chart: Breakout, RetestIn this analysis, we will explore the chart of SPELS, focusing on the recent breakout of the falling trendline, the subsequent retest, and the stock's current positioning. Additionally, we will examine key fundamental data of the company. By considering these technical and fundamental aspects, we aim to provide insights into the stock's current situation and a potential trading opportunity. Let's proceed with the analysis. Chart Analysis: Upon reviewing the provided TradingView chart for SPELS, we can identify several key technical factors that may impact the stock's future price action. Breakout and Retest of Falling Trendline: The chart indicates that SPELS had a breakout of the falling trendline seven weeks ago, followed by a successful retest of the breakout level. The retest confirms the previous resistance has now turned into support, signaling potential strength in the current uptrend. RSI Support and Strength: The Relative Strength Index (RSI) is showing good support, indicating strength in the stock's current price movement. RSI is a momentum oscillator that measures the speed and change of price movements. A strong RSI support suggests that buying interest may be increasing and could potentially lead to further price appreciation. Fundamental Overview: SPELS provides solutions such as Wafer sort, Assembly, Test & Drop-shipment services, which help customers accelerate time-to-revenue for their new products. Additionally, the company offers services like Failure Analysis and Full Reliability Test. SPELS has a Price-to-Earnings (PE) ratio of 46.4, which reflects the market's valuation of the stock relative to its earnings. The Return on Equity (ROE) is 10.4%, indicating the company's efficiency in generating profits from shareholders' equity. The market capitalization of SPELS is ₹262 Cr. Trading Opportunity and Targets: Based on the analysis, a potential buying opportunity arises with SPELS' breakout of the falling trendline, successful retest, and strong RSI support. Traders may consider initiating a long position at the current market price (CMP) of 57, with a stop loss set at 49 to manage potential risks. In terms of the target, the breakout and positive technical indicators suggest the potential for further upside movement. A target of 67 can be considered, taking into account the stock's current momentum and the breakout pattern. Conclusion: Based on the technical analysis, SPELS' chart indicates a recent breakout of the falling trendline, successful retest, and strong RSI support. These factors suggest a potential bullish outlook for the stock. Additionally, the fundamental overview provides insight into the company's business operations and financial performance. Traders and investors should carefully assess their risk tolerance and consider implementing appropriate risk management strategies. As always, it is advisable to consult with a financial advisor or conduct further research before making any financial decisions. Disclaimer: The information provided in this analysis is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
BSE:SPELSLong
by yaashul
ASMTEC's Chart: Breakout, RetestIn this analysis, we will explore the chart of ASMTEC, focusing on the recent breakout of the falling trendline, the subsequent retest, and the stock's current positioning above horizontal support. Additionally, we will examine key fundamental data of the company. By considering these technical and fundamental aspects, we aim to provide insights into the stock's current situation and a potential trading opportunity. Let's proceed with the analysis. Chart Analysis: Upon reviewing the provided TradingView chart for ASMTEC, we can identify several key technical factors that may impact the stock's future price action. Breakout and Retest of Falling Trendline: The chart indicates that ASMTEC had a breakout of the falling trendline two weeks ago, followed by a retest of the breakout level one week ago. The successful retest of the breakout level indicates potential strength in the current uptrend, as it confirms the previous resistance has now turned into support. RSI and Resistance (Divergence): Three weeks ago, there was a resistance (divergence) observed in the RSI, which seems to be adjusted now. Divergence occurs when the price and an oscillator, such as the RSI, move in opposite directions, suggesting a potential trend reversal. The adjustment of the divergence could signal a potential continuation of the stock's current trend. Fundamental Overview: ASMTEC is engaged in providing consulting and product development services in the areas of engineering services and product R&D. The company has a Price-to-Earnings (PE) ratio of 79.7, indicating a higher valuation relative to its earnings. The Return on Equity (ROE) is 9.81%, which indicates the company's efficiency in generating profits from shareholders' equity. The market capitalization of ASMTEC is ₹937 Cr. Trading Opportunity and Targets: Based on the analysis, a potential buying opportunity arises with ASMTEC's breakout of the falling trendline, good volume buildup, and adjustment of RSI resistance (divergence). Traders may consider initiating a long position at the current market price (CMP) of 538, with a stop loss set at 503 to manage potential risks. In terms of the target, the breakout and successful retest suggest the potential for further upside movement. A target of 635 can be considered, taking into account the stock's current momentum and technical breakout pattern. Conclusion: Based on the technical analysis, ASMTEC's chart indicates a recent breakout of the falling trendline, successful retest, and adjustment of RSI resistance (divergence). These factors suggest a potential bullish outlook for the stock. Additionally, the fundamental overview provides insight into the company's business operations and financial performance. Traders and investors should carefully assess their risk tolerance and consider implementing appropriate risk management strategies. As always, it is advisable to consult with a financial advisor or conduct further research before making any financial decisions. Disclaimer: The information provided in this analysis is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
BSE:ASMTECLong
by yaashul
banknifty analysis,aviod false breakout and how to follow trendi usually dont post on indices but this analysis will help you for both indices and stock analysis but will be much useful for option buyers as stock buyers they wont lose if stock is side ways guys usual learning rsi below 30 oversold above 70-80 over bought different people take it differently and macd above center line buy below center line sell, or in macd 26ema crosses 9 ema sell , or 9 ema crosses 26 ema buy moving averages when smaller moving average crosses larger moving average buy and when larger moving average crosses smaller moving average sell ,, and some guys use super trend they buy when given buy signal and sell when given sell signal , so everyone know these basics then is it that simple ? answer is no,it is not that simple there would be false signals most of the time and all tecnical indicators most of them are derived from price ,,there are also volume based indicators and etc. that is a different thing , so finally as saying goes "bav bagav hay market may" price is the god of market so all you need is to follow trend by confluence of signals (confluence trading) where multiple signals will give you a confirm trade--this will only happen when there is a trend so in case if you think you have too many indicators just follow trend . so one of the main essential thing is to get confirm trade and to avoid false signals lets get that with the above banknifty chart so you can see arrow1 where moving averages are so close which is nothing but convergence which also indicates sideways market so wait for a direction or breakout ,so why i use both macd and moving averages is you can see macd uses 26 and 9 ema and provides center line ,and moving averages i use are 20,50 100, so at that point you can see price broke above moving averages and there was rally and you can see on macd also there was strong convergence where arrow 2 is pointed and is above center so finally it broke out on higher side and trend is uptrend best way to take a trade is price completely above or below all the moving averages and in macd above center line or below center line ,,,so at arrow one you get a trade. so after a shift move you can see rsi was at 86 at arrow 8 and there was a hanging man candle that day market gap up opened , so it was sideways it did not fell immediately as soon as rsi is in overbought range there is no need that market need to fall when rsi is above 80 as i said it is just derived from price but indicates to stay cautios thats all, so you can see the trend is still up as price is still above mas ,and there came a fall of 368 points in one 15min candle ,which filled the gap of that day ,but later you can see the red circle where price is side ways where 20 ma is converged in price but still above 50 ma and you can see on macd arrow 3 it gave sell signal but the trend was side ways, so it is a false signal but it was above center line which indicates still uptrend but with some consolidation so next day price again gaped up filled gap , still above all ma and macd still above center line, arrow5 indicates convergence and rsi also indicating +ve divergence so till the trend is up do not take any bearish positions as long as above mas follow trend and market rallied. so at arrow seven you can see rsi is at 83 at 20 jul 14:15 candle the next 15 min candle there was a 108 point fall this also one of the false moment , you can see macd is still above center,and macd moving averages are +ve and price still above all mas, the next candle market fell another 80 points and recovered in the same 15 min candle, ""so another point is while taking trade let the candle closing be happening completely"", later market went to 46369.5 and rsi was at 74.77 at that high candle ok now rsi is decreasing from 83 to 74 so beraish divergence but still above mas, and going forward 21 jul 10:00 canlde you can see macd 9 ema crossing 26 ema and rsi is decreasing so wait and watch no trade to take later price was side ways and made some higher highs and higher lows but still not below mas at arrow 6 you can see finally macd is below center line but still 100 dma is respected but 20 and 50 are broken so not a trending market as price is not above all ma, at arrow 4 20 ema and 50 ema converged and rsi already in bearish and macd below centerline and macd emas also -ve so no bullish trades only bearish, so going forward price broke 100 ema and rsi going down and macd also , but you can see as the candle 25jul 11:30 it closed below 100 ema but next two had doji and it reversed a bit this is a difficult place to predict , but still macd below center line and rsi beraish and ma -ve crossover but a new point when you see there red consective maribozu candles it is 3 black crows , and three 3 green are three white soliders but in trending like this when you find three continous red candle mostly the next one will be green and vice versa in these type of situations so be careful , exact three black crows and 3 white soliders i will come up with a different post but in this set up they are false candels and you can see 3 green and there was a fall and again came 3 red then again at arrow 9, 2dojis and again 3 green candle at arrow 9 you see macd 9 ema is crossing 26 ema and rsi is showing positive to oversold signs,and ma are tavelling side ways, which is convergence ,so now market already sloped down as ball falls from high into smaller steps market made hh and hl (higher highs and higher lows) and stabilizing , so moving averages are converging and are so close , and there formed inverse head and shoulder with perfect head and shoulders as you can see two dojis in between and 3 red candels and 3 green green candels in head part at arrow 11 macd crossed center momentum is picking up, rsi is showing +ve divergence at arrow 10, at arrow 11 price is moving above mas with confirmed inverse head and shoulder, so you get another trade so finally expiry day came that too montly expiry and price hit the previous high , which is a resistance, so at the same peak there came 3 consecutive red candles so is this a real three black crows yes it is, you can see the fourth cadle is not green , and that is the candle that broke all 3 ema and closed below 100 ema, where arrow 12 is pointing 27 jul 11:15 candle ,also macd is above center but bearish crossover, rsi also bearish and price closed below all mas which is main thing followed by three black crows this was a real 3 black crows valid one , the fourth candle gave a strong validation so here comes another trade. at arrow 13 there was again 3 red and you can see followed by two green this always a false reversal in strong treding down , if in trend this occurs the trend will again be the same even for 3 white candels vice versa, and arrow 15 showed rsi 30 but is false , when going down trend the people who follow rsi 30 buy concept might entered here causing 2 green candle that hits tsl and stoploss, but in 3 rd candle you see again big fall so do not go againts these type of trends , these are just pull backs in treding where you can add quantity if you have conviction in set up, ,, similar you also saw in uptrend there are some falls but finally price moved higher ,same here also when going down dont go in reverse, so finally at arrow 14 the price took support on trendline that i drew on daily time frame , now macd is +ve but below center line, rsi is showing positive price above 20 ema but not above all emas so wait till you get confirm call let price move above all emas i think there will be again ma convergence wait for it or see if trendline breaks usually 1st week of month around 4-5 dates mutual funds buy so wait for all conditions to meet. so final conclusion, price above all mas very very important for trend followers, mas may be lagging indicators but are purest derivation of price macd above or below center along with macd ma crossover rsi divergences is lead indicator any pattern or interesting candle sticks or with bigger time frame trendline follow the trend for indice trader if option buying they make only if market is trending , so always wait for trend do not over trade . or if you want brekout method wait for averages to get close and see if other conditions are in your favor bingo!!! hope everyone enjoyed and learned something , and when experience builds up you will be in much more advantagious situation never depend on one indicator you can change the system with super trend also , but atlast everything is trend as price either need to go up or down or sideways . disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk :)
NSE:BANKNIFTY
by techno_funda_guy
NIFTY WILL SOON GO UPWARDS DUE TO THREE DRIVES PATTERNTECHNICAL ANALYSIS : THREE DRIVES HARMONIC PATTERN - Nifty has formed a strong descending harmonic pattern (Three Drives) which clearly indicates reversal happening very soon DOJI PATTERN - Nifty has also formed a nice doji pattern which indicates a reversal of the ongoing trend HAMMER PATTERN - Also a hammer pattern is formed which again indicates an upcoming reversal of the trend OSCILLATOR INDICATOR - It is also indicating overbought zone as average smoothing line has touched the 80 level, hence more momentum in the upwards direction
NSE:NIFTYLong
by peace_lover
Crude Oil on Fire ..Weekly bullish divergence seen 3 days beforeCrude oil bullish divergence is a valuable concept in technical analysis that can help traders identify potential trend reversals and make more informed trading decisions. This article will explore what bullish divergence is, how to spot it on crude oil price charts, and practical tips for incorporating it into your trading strategy. Understanding Bullish Divergence: Explain the concept of bullish divergence in detail, emphasizing how it occurs when the price of crude oil makes lower lows while the RSI indicator makes higher lows. Emphasize the importance of this pattern as a potential early signal for a trend reversal. Identifying Bullish Divergence: Provide step-by-step guidance on how to spot bullish divergence on crude oil price charts. Include annotated examples to illustrate the concept visually, making it easier for readers to understand and apply. Confirming with Other Indicators: Highlight the significance of using multiple indicators to confirm bullish divergence signals. Suggest pairing RSI with other technical indicators like Moving Averages, MACD, or Stochastic Oscillator to strengthen your analysis. Timeframe Considerations: Explain how the timeframe you choose can impact the significance of bullish divergence. Discuss the differences in signals and reliability between shorter-term and longer-term charts and how this may influence your trading approach. Risk Management and Stop Loss: Emphasize the importance of risk management when trading crude oil based on bullish divergence signals. Encourage readers to set appropriate stop-loss levels to protect their capital in case the trade doesn't play out as expected. Fundamental Analysis: Acknowledge that technical analysis, including bullish divergence, is just one piece of the puzzle. Encourage readers to also consider fundamental factors such as geopolitical events, supply and demand dynamics, and economic indicators that can affect crude oil prices. Backtesting and Practice: Suggest the use of backtesting to validate the effectiveness of the bullish divergence strategy over historical data. Encourage readers to practice on demo accounts before implementing the strategy with real money. Real-Life Examples: Share real-life examples of successful trades using bullish divergence in the crude oil market. This can help readers relate to the strategy and see its potential application in live trading scenarios. Patience and Discipline: Stress the importance of patience and discipline when trading based on bullish divergence. Remind readers not to rush into trades and to stick to their trading plan, avoiding emotional decisions. Conclusion: Summarize the key points of the article and reiterate the value of understanding and using bullish divergence in crude oil trading. Remind readers that mastering this powerful tool requires continuous learning, practice, and adaptability to changing market conditions.
MCX:CRUDEOIL1!
by digitaltrader003
GLENMARK BREAKOUT Glenmark daily chart is showing strengths followed by breaking falling resistance trendline and giving breakout on relative strength indicator too it is looking like that consolidation phase is over and get ready for further up moves in it that is why I am adding Fibonacci retracement indicator for helping coming resistances and targets too it is looking little complicated but once you will see carefully you will find the research which I want to mention in it.. Cause of Long-: 1- Falling resistance trendline breakout.. 2- Relative strength indicator breakout..
NSE:GLENMARKLong
by AMIT-RAJAN
ASAHIINDIA's Chart: Breakout, DivergenceIn this analysis, we will explore the chart of ASAHIINDIA, focusing on the breakout of a falling weekly trendline, recent divergence, positioning relative to key moving averages, and the company's market share in the automotive glass industry. By examining these technical and fundamental aspects, we aim to provide insights into the stock's current situation and potential trading opportunities. Let's proceed with the analysis. Chart Analysis: Upon reviewing the provided TradingView chart for ASAHIINDIA, we can identify several key technical factors and fundamental data that may influence the stock's future price action. Breakout of Falling Weekly Trendline: The chart indicates that ASAHIINDIA has experienced a breakout of a falling weekly trendline. This breakout suggests a potential shift in the stock's trend from bearish to bullish. The breakout from a significant trendline is considered a positive signal for the stock's price and may attract further buying interest. Recent Divergence: Additionally, the analysis reveals that there was a divergence on the chart, which adjusted two weeks ago. Divergence occurs when the price and an oscillator, such as the RSI (Relative Strength Index), move in opposite directions. The completion of the divergence suggests a potential reversal or continuation of the stock's current trend. Position Relative to Key Moving Averages: ASAHIINDIA is currently trading above the 50 EMA (Exponential Moving Average), 100 EMA, and 200 EMA. This positioning above the key moving averages suggests a bullish trend in the short and medium term. The stock's ability to remain above these moving averages is considered a positive sign for potential further upside. Fundamental Data: ASAHIINDIA is a Joint Venture between Maruti Suzuki and AGC, and it holds a substantial 43% market share in the automotive glass industry. This market share indicates the company's strong position in the industry and its potential for continued growth. The collaboration with Maruti Suzuki and AGC adds credibility and stability to the company's business prospects. Buy Setup and Target: Based on the analysis, a potential buying opportunity arises at the current CMP (Current Market Price). Traders may consider initiating a long position, considering the breakout of the falling weekly trendline, the recent divergence, and the stock's positioning above key moving averages, which may support upward movement in the stock's price. In terms of target levels, a target of 630 can be considered. However, traders should closely monitor the price action and adjust their profit-taking strategy based on individual risk tolerance and trading plan. Stop Loss and Risk Management: To manage risk, traders should consider implementing a stop loss at 492. Setting a stop loss helps limit potential losses in case the trade does not go as anticipated. Conclusion: Based on the technical analysis, ASAHIINDIA's chart indicates a breakout of a falling weekly trendline, recent divergence, and a bullish positioning above key moving averages. Furthermore, the company's strong market share in the automotive glass industry adds to its potential for continued growth. Traders and investors should carefully assess their risk tolerance and consider implementing appropriate risk management strategies. It is essential to closely monitor price action and any changes in the technical and fundamental landscape to make informed trading decisions. Disclaimer: The information provided in this analysis is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
NSE:ASAHIINDIALong
by yaashul
Analyzing CUB's Harmonic Shark Pattern, Trendline SupportIn this post, we will conduct a comprehensive analysis of Cub's weekly chart, focusing on the formation of the Harmonic Shark pattern based on Fibonacci levels. Additionally, we will explore the presence of trendline support, the demand zone, and the RSI indicator. By examining these technical aspects, we aim to gain insights into the potential direction of the stock. Let's delve into the analysis and explore the situation. Chart Analysis: Upon reviewing the provided TradingView chart for Cub, we can identify the formation of a Harmonic Shark pattern on the weekly timeframe. This pattern is based on Fibonacci levels and suggests a potential reversal in the stock's trend, indicating a shift from a bearish to a bullish market sentiment. The Harmonic Shark pattern incorporates Fibonacci retracement levels to identify potential reversal zones. It consists of five key points: X, A, B, C, and D. The pattern is formed by the price retracing from point X to point A, followed by a rally from point A to point B. The subsequent correction from point B to point C creates the potential reversal zone. Finally, the price moves from point C to point D, representing the potential reversal and continuation of the bullish trend. Trendline Support, Demand Zone, and RSI: In addition to the Harmonic Shark pattern, we can observe the presence of trendline support on the chart. This support level adds significance to the potential reversal indicated by the pattern. It suggests that the stock's price might find buying interest in this area, potentially leading to a bounce or a continuation of the bullish momentum. Furthermore, the chart also indicates the presence of a demand zone. This zone represents an area of significant buying interest and may act as a support level for the stock's price. The convergence of trendline support and the demand zone strengthens the potential for a bullish move. Additionally, the RSI (Relative Strength Index) on the weekly chart is starting to show attractiveness. The RSI is an oscillator that measures the speed and change of price movements. An RSI reading below 30 is often considered oversold and may indicate a potential buying opportunity. The attractiveness of the RSI suggests a possible shift in momentum to the upside. Analysis and Targets: Considering the Harmonic Shark pattern, the suggested entry point would be the current price of 125. The initial target for this pattern is set at 156, with a subsequent target of 180. These levels represent potential areas where traders may consider taking profits. To manage risk, a suggested stop-loss level of 109 is recommended, which helps limit potential losses if the anticipated reversal does not materialize. Conclusion: Based on the technical analysis, Cub's weekly chart exhibits the formation of a Harmonic Shark pattern, indicating a potential reversal and continuation of the bullish trend. The presence of trendline support, the demand zone, and the attractiveness of the RSI further enhance the potential for an upward move. Traders and investors should closely monitor the price action around the trendline support, the demand zone, and the confirmation of the Harmonic Shark pattern before making any trading decisions. It is important to consider other technical indicators, market conditions, and consult with a financial advisor before making investment choices. Disclaimer: The information provided in this blog post is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
NSE:CUBLong
by yaashul