Tata Power : The making of a possible multibaggerAn interesting behavioral pattern is in continuous formation on monthly charts of #tatapower
1. Since its listing (available chart data) it remains in a consolidation box for about 1852 days
2.Ending this consolidation phase, it enters a parallel rising channel that spans all along 1248 days
3.After this parallel rising channel it again enters in a massive consolidation box that lives a length of 4566 days
4.Breaking this consolidation phase with a landmark of lowest price in five years it enters in an uptrend where it begins to form yet another parallel rising channel, this parallel rising channel as of today has reached 548 days
5. Since last seven months it has been forming an upward move with a higher low pattern,no low of previous months is broken in any of these seven months
6. Currently it is trading well above all the moving averages (specifically 9, 13, 21, 25, 50, 100, 200, 365 EMA)
7. As of today, the Stochastic RSI is 100.00
8. MACD is in a bullish crossover since Sep '20 and the all green histograms are onto a new peak formation frenzy
9. Since Mar '20 the trading volumes are registering life time high numbers
How often do we find such awesome chart patterns ??
Views and opinions solicited !
