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Can Fin Homes Ltd.Can Fin Homes Ltd.Can Fin Homes Ltd.

Can Fin Homes Ltd.

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CANFINHOME trade ideas

CanFinHome: Weekly Chart Analysis Signals Bearish MomentumIn this technical analysis article, you can examine the CanFinHome weekly chart and evaluate various indicators and patterns to gain insight into potential price movements. We focus on horizontal resistance, Elliott wave theory, daily RSI, anti-shark patterns and price action to estimate the future direction of the stock price. Weekly horizontal resistance: The first significant observation on the Can Fin Homes weekly chart is the presence of a pronounced horizontal resistance level. This level creates an obstacle to price gains and often results in stock trend reversals. Traders and investors should monitor this level closely as it could put strong selling pressure on stocks. Completion of the Elliott Wave: Based on Elliott Wave theory, Can Fin Homes appears to have completed the 5th wave. According to this principle, 5 waves are usually completed followed by a correction phase. This indicates a possible stock trend reversal, increasing the likelihood of a downtrend. Daily Overbought RSI Range: The Daily Relative Strength Index (RSI) is an important momentum indicator that helps identify overbought and oversold conditions. In the case of Can Finn Holmes, the RSI on the daily chart is in overbought territory, indicating that the stock may face a downside or consolidation phase. This further underscores the pessimistic outlook for the stock. Weekly shark action chart pattern: Another notable pattern on the weekly chart is the presence of anti-shark patterns. A variation on the famous shark pattern, this pattern features a rapid drop in price followed by a strong reversal. An anti-shark pattern suggests that stocks may fall before a potential upside reversal. The price spread suggests a premium zone around 720: Analyzing price movements on the weekly chart, we can see that Can Fin Homes is hovering around the 720 level. This points to the existence of a potential premium zone where sellers can start to dominate and push prices down. Traders should closely monitor price action around this level for further confirmation. Trading settings: Based on the analysis of the indicators and patterns above, the possible trade setups are: Entry: 697 Goal 1: 679 Goal 2: 663 Stop loss: 719 Conclusion: In summary, Can Fin Homes' weekly chart-based technical analysis points to bearish momentum for the stock. The presence of horizontal resistance, the completion of the 5th Elliott Wave, the daily RSI in the overbought region, the anti-shark pattern, and price action suggesting a premium area around 720 all point to a potential downside for the stock. However, it is important to remember that technical analysis is not absolute and traders should always consider other factors and risk management strategies before making a trading decision.
NSE:CANFINHOMEShort
by yaashul
CANFINHOME - Ichimoku Bullish Breakout Stock Name - Can Fin Homes Limited Ichimoku Cloud Setup : 1). Today's close is above the Conversion Line 2). Future Kumo is Turning Bullish 3). Chikou span is slanting upwards All these parameters are showing bullishness at Current Market Price and more bullishness AFTER crossing 733 #This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. # Cloud Trading # Ichimoku Cloud # Ichimoku Followers I hope you all like my analysis. Please do share your thoughts into comment section. Please give a like, share & subscribe for daily analysis.
NSE:CANFINHOMELong
by nikunjbhadja
CANFIN HOMES LOOKS GOODCan fin homes looks after breaking a falling resistance trendline on weekly chart and gives a close above so we can consider it is breakout of triangle resistance trendline and after a breakout of falling resistance trendline we can go long in it for the target of 704 taking stop loss of 618 below a weekly candle close. TARGET AND STOP LOSS 𝑵𝑶𝑻𝑬- 𝑶𝑵𝑳𝒀 𝑭𝑶𝑹 𝑬𝑫𝑼𝑪𝑨𝑻𝑰𝑶𝑵 𝑷𝑼𝑹𝑷𝑶𝑺𝑬
NSE:CANFINHOMELong
by Sonia-Singh
19
Continuation Diamond and Flag Pattern formation On Daily Chart two patterns has been noticed recently in CANFIN HOMES: Continuation Diamond (Bullish) and Flag (Bullish) Continuation Diamond (Bullish) - explanation The script canfinhome previously experienced a period of consolidation where the price moved within a specific range. However, the price has now broken out of this range in an upward direction, indicating that the previous uptrend is likely to continue. This breakout occurred after a pattern of higher highs and lower lows, followed by a narrowing of the trading range. This pattern is known as a broadening formation or a diamond pattern, and its upward breakout confirms the continuation of the previous uptrend. Flag (Bullish) - explanation The script canfinhome has recently experienced a strong upward movement, and although there was a temporary pause, the price is now continuing its upward trend at a rapid pace. This pause is often seen in a bullish Flag pattern, which is a pattern that occurs during a strong market rally. This pattern is characterized by two parallel trend lines that typically slope downward in the opposite direction to the prevailing uptrend. The bullish Flag pattern is confirmed when the price breaks through the upper boundary of these trend lines, indicating that the upward movement is likely to continue. Conclusion: downtrend looks minimal before reaching resistance. Note for everyone who came across this study: This chart is only for educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CANFINHOME
by hardeepssethi