An inverted head and shoulders pattern is formed and a long position can be taken after breakout with profit and stop loss levels mentioned in the chart.
As per the H&S Pattern on weekly charts, target:160, in case of breakdown from the descending triangle (daily), tgt: 64 levels
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
After marking highs near 321, the stock saw a downward corrective move which took the stock to test the levels near 176. It is seen taking support near its 200-wMA and inch higher. Weekly RSI has just moved above the oversold area and this is a positive sign especially when it has done so after marking a minor higher bottom. While On-Balance Volume did not fall...
GO short if it breaks 240. very strong support. management has reduced their holdings. would not recommend buying until strong buying volume is seen and decent rise in price.
in weekly, price broke out of horizontal resistance with good volume, and candles are pushing upper BB and BB is expanding.
in daily, there was a BB squeeze then price closed above upper BB and BB started expanding,
overhead resistance at 430,
with a sl - 280, tgt - 430
Its long term trend is up, in daily time frame it is consolidating at support levels (horizontal + trend line).
Also hidden bullish divergence seen here.
with a sl below the support zone - 250, 1st tgt should be the swing high i.e. 297. Once the swing high broken, then it ll be more bullish and move further up.
1. Brigade Multiyear breakout
2. It is also ascending triangle breakout
3. Important thing is both breakouts is given with good volume
4. It trying to break resistance zone many times.
5. Continuously making higher lows
My target is 350+ in Short term and SL 145
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