Andra Papers - Trend reversalFundamentals,
1. Operating Profit are improving
2. Piotroski score 9
3. Net profit TTM is high in Industry
4. Stock with Low PE
Technical
1. Tweezer Bottom
2. Price action supportes by previous resistance & 200 ema
3. Price structure - Consolidation (basing), trend reversal
4. Momentum is expected
Entry : 565 (50%) , 595 ( 50%)
SL: 540
Twizzer_bottoms
Reversal candlestick patterns1.Bullish Engulfing : The first candlestick is a red one, and the second is green. A green one “engulfs” the red one because the body has a lower opening price and a higher closing price
2. Evening Star : You need three candlesticks to see this Evening Star pattern, a green candle with a long body, a short green or red candle, and a red candlestick.
3. Dark Cloud : The price gaps higher and then sells off, creating a candlestick that shows a closing price lower than the midway point in the previous candle.
4. Spinning Top : A spinning top is a candlestick pattern having a short real body with long upper and lower shadows.
5. Tweezzer Bottom : The Tweezer Bottom candlestick pattern is a bullish reversal candlestick pattern that is formed at the end of the downtrend. It consists of two candlesticks, the first one being bearish and the second one being bullish candlestick.
6. Two Black Gapping : The bearish two black gapping continuation pattern appears after a notable top in an uptrend, with a gap down that yields two black bars posting lower lows.
Twizzer bottom reversalLast 2 weeks, we saw a pullback in the market.
There was a formation of twizzer bottom, followed by a hammer. It indicated strong buying.
We could see this rally up to 16800, it is critical resistance.
This is a short term upside opportunity
CESC - TWIZZER BOTTOMCESC - 26.03.2022
CMP - 77.45
TARGET- 82,88,95 ; SL - 69.5
TWIZZER BOTTOM formation at support level in Weekly time frame, Increasing Volume
Disclaimer - For Education Purpose
