GENCON-EQ -Strong Breakout Candidate -Falling Channel Pattern Breakout -Volume Buildup Entry 🟢: Above 57 Target 🎯: 70, 73 ++ Stop loss 🔴: 54 WCB Remark: Short Term ⚠️ Disclaimer : Chart & Levels are for educational purposes. Trade according to your Risk or consult with your Finance Advisor.
Can give some momentum upside till the trendline touches.
A "Double Bottom" is a technical analysis chart pattern frequently observed in financial markets, such as stocks, commodities, and forex. This pattern is considered a bullish reversal pattern, indicating that an ongoing downtrend might be coming to an end and a new uptrend could be emerging. The Double Bottom pattern consists of two distinct downward price...
1. Equal double bottoms 2. Triangle pattern Breakout 3. 1:3+ RR 4. Trend reversal set up
GENCON\ Long down trend resistance zone break soon after u can mentioned target
Stock has fallen from its high of 185 and currently close to its near term bottom level of 110.
The generic construction has given a breakout and ready to test its 38.2% retrenchment level which is @ 160 and once above it will go for our second target of 173 and finally 183 level. Giving a good return of 10% to 20% from current level of 153. This is based on Fibonacci retrenchment levels as shown in the chart. Good luck with your trade. Please keep a...