This is the Chart of Quick Heal on the daily scale, A falling Wedge pattern did appear and the Prices breaks out downward.
Though Falling Wedges patterns are supposed to breakout upwards, but here it breaks out downward.
This pattern forms over a period of approx 6 months.
Break out came with a gap , hence signalling price may go down further.
Support for the...
It is been observed on daily chart that the price action breaks breaking below the crucial support levels indicating further fall down. The price action signals that sellers are in dominance of the prices levels and now they may take to the next support levels around 603-600 levels.