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Stock moving above fibonacci moving averages..
EDELWEISS a wonderful clear minded stock... May see a small downside before turning the wheels... I hope the picture speaks of the levels..
*Disclaimer.. may or may not happen ... pls dont put me in hot seat me if it does not pan out
Short setup for edelweiss
Buy on break of Inv head and shoulder pattern tgt 250 adn stops at 170
the stock is going through a channel so it has to come retrace back and the go down.so lets catch the downfall
After testing support Edlewiss has turned bullish. Support is at 163, target 240
The last 8/1 angle support is at 163, if turns positive, target can be 242
Strong support at 170 below that 134
I think headed lower
1. No vested interest
2. Educational purpose only
Major break down happened on daily chart. Seems all set to go 200 forst then 180. There it should make base by sideways trading before startinh going up again.
H&S target has been achieved.
Being a novice would like to have opinions from expert that -
whether this pattern qualifies for the classical charting pattern conditions of H&S or not ?
Head & Shoulder Pattern target completed ?
Can we have the expert chartist views please.
Please Do Your Own Analysis
This is my Personal View
it formed a bullish engulfing in the end of a downtrend chance to be a reversal
Reversal confirmation on intraday charts
Levels mentioned in charts ...