Looks like a bearish flag has formed, because previously it failed to continue the rally after breaking out of the neckline of the rounded bottom
Also flag is forming after a small correction in the upward direction, which means there's room for more downside.
Daily chart shows reversal of downtrend, with second trough within 3% limit of the first trough. Increase in volume on moving from both the troughs and breaking of resistance confirms the pattern.
target - 1048
stop loss - 889
On weekly chart, Stock has taken support at downward sloping trend line which is PRZ of Bullish Butterfly Pattern. Stock has also formed bullish Engulfing candlestick pattern on weekly chart.
Downside support at 835-813
Level to watch on upside 930-980.
It is been observed on the monthly chart that the price action breaks below previous important and major support levels of 970-940 indicating a big bearish move ahead. It shall now move further down to next support levels at around 750 levels in next few months.
Target 1: 852
Target 2: 800
Target 3: 785
Target 4: 755
It is been observed that the price action is reaching out to the previous strong and major monthly support levels where the price action generally retraces back due to high buying pressure. There is one more week is remaining in this month end that shall define further trend. Now, it looks in a safe zone until it breaks and close below 915 levels. This chart is...
JUBLFOOD formed H&S pattern in daily chart but stock looking still weak if not able to hold current level you will see 900 or if break 900 then 800-700 also can be in your screen.. support level for JUBLFOOD 990-936-900 and Resistance Levels for JUBLFOOD 1140-1172-1200-1240
It is been observed that the price action firstly breaks out from a symmetrical triangle formed on a daily chart. The price action touched the price levels of 915 which was previous support levels and bounced back quickly to 1080 levels which is previous support of the triangle acting as resistance. Now the price action is retracing and it shall go further down to...