Axiscades
cmp 206
target 300 plus
stop 160
Weekly chart
1) Stock pierces past down trend resistance line at 135.
2) Stock pierces past 30 period ema at 175 with huge volumes confirming change in trend.
Downtrend seems to be axed and in the past also it seems to have respected the trend ...
Challenging Ranges -1 : Rs. 220-Rs. 230/- (Wait for it to cross)
Challenging Ranges -1 : Rs. 270-Rs. 280/-
Final Range : Rs. 370-380
Acceptance Range : Rs. 180 if broken then 150
Goodness is the only investment that never fails.
In monthly, price took support at long term support , also trend line resistance broken here
in weekly, regular bullish divergence formed here. also price started pushing upper BB upwards with high volume
with a sl - 133, 1st tgt - 193, 2nd tgt - 240 3rd tgt - 300
onRequest
@meqazi
The demand line of the descending triangle is broken. Descending triangle is also a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend like this one, but they are typically continuation patterns. Regardless of where...
Axiscades at the apex of the triangle. A breakout on the down side looks likely. build long positions only on crossing of 200 DMA. proces now at 50 DMA.
