Chart forming W-pattern,
Stock has already crossed downward trendline ,
As per my view a strong Fundamental stock available to undervalued price.
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SEPT 2019: For the upcoming long festive season, I couldn't help but post a recommendation which would bring smiles to everyone's faces.
DBL (Dilip Buildcon Ltd)
Buy Range: 350 - 410
Sell Target: 700
Stop Loss: N/A
Timeframe: 6-8 months
Mint the money. When it is done, be sure to thank me! :)
HDFC Bank Forming Bullish W or Double Bottom Pattern can go Long on every dip.
Bullish View on stock due to below point:
1) Stock forming Bullish W Pattern .
2) Stock was taken support at 2150-2160 zone & bounce with Good volume [Avg volume greater than 20 day].
3) Bounce happen from support was Big Green Candle
4) Stock Moved above 200 sma (Golden...
Price has formed the big W pattern and also broken the intermediate term Trend line so one can conclude that downrend is over now and prices are supposed to move up. Prices have retested the down sloping trend line from above and bounced back. It is getting some resistence at the previous high level so one can use the retrace for a good entry. One can invest in...
The pattern is simple and clear so doesn't require much details. After breakout it is retesting from the above which could be an opportunity to go long with small stop loss. It has also broken the down sloping trendline.channel and trading above it convincingly another confirmation for a trend reversal. One can look a target of 357 - 370.
Here exists a beautiful W pattern buying opportunity in the stock. The second bottom has shown a divergence also. Normally the target for the W patterns are big reaching the area from where trend started, let's see how this stock moves. Good risk to reward ratio. WEducational purpose as I am not trading it.
The stock is in downtrend making lower lows. IT has given first reversal signal forming double bottom and also divergence at this level in MACD/RSI. One can enter the long trade now as the risk is low. How far it would go only time would tell but 325 seems quite reasonable expectation.