Symmetric Triangle on UPL and it may break either side. Indicator showing the neutral trend.
Trade Long:
Buy above - 875
Target - 892
Stop loss - 860
Trade Short:
Short below - 855
Target - 837
Stop loss - 870
UPL has been trading in uptrend and seems to be trading at trend resistance, it closed with bearish shooting star candle confirming further downside in the stock around 723 in near term,
It is been observed on the daily chart that the price action firstly breaks above the triangle consolidation and now breaks and closes above a major resistance indicating a bullish move ahead.
Target: 755
Stoploss: 725
It is been observed on hourly chart that the price action breaks out from the resistance level of 705-710 and interesting close above the resistance levels indicating a bullish and positive move ahead.
Target: 730
Stoploss: 690
The price action breaking out from a consolidation and it may reach to previous resistance level of 667-662 which may now act as support.
Target: 667
Stoploss:691
