USHAMART | Triple bottom | Breakout | Long termThe stock reflects the classic triple bottom pattern which I initially began tracing as cup and handles only to notice later that these multiple back to back cups are actually a triple bottom pattern.
Classic price target {The breakout level + height } has been successfully achieved.
The strong back to back bullish candles with huge volumes and a aggressive MACD supports the long term trend which also confirmed by the 2.5 year resistance level breakout.
USHAMART trade ideas
FY21-22 Swing Trade Idea #12 : Long on USHAMART This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
USHAMART - TECHNICALLY IT IS A BREAKOUT STOCK.
#USHAMART - CMP 36.55. TECHNICALLY IT IS A BREAKOUT STOCK.
MADE INVERTED HEAD & SHOULDER PATTERN AND BREAKOUT WITH GOOD VOLUME.
GOOD SUPPORT NEAR 32-30. PRICE CAN GO FORWARD TILL 45-55-65+>> AND WEAK BELOW 28 CLOSING.
IT IS ALWAYS BETTER TO BUY NEAR 34-36 POTENTIAL RETURN IN SHORT OR MEDIUM TERM. 👇🏻