The stock seems to have broken out of ascending triangle today around 455. The ascending triangle pattern took almost 9 months to complete. So it looks to be a strong breakout. One can go long on pullback towards 460-452 for medium to long term targets of 530-590 with stop below 415.
we have to connect minimum of 2 highs and 2 lows to form any type of triangle pattern.
here, it's a symmetric triangle on a weekly chart.
to know more about triangle patterns and how to use them,click on the link.
www.investopedia.com
Thank You!
(1) and (2)* cause bottom confirmation
Since CCI crosses 100 + EMA aligned + 2 strength candles'
(2) crosses the fibo level of 61.8 will move to 637.95, if exeeds will cause fresh BoxBO for 800
Here 2* is ongoing and will confirm on 31/08/2018
using the ichimoku system in the daily chart, reveals a very bearish sense..
there is a head and shoulder formation in the weekly chart, with the price action and the neck of the HS at the yearly pivot, the S1 yearly support most likely to act as a base after the HS does the damage to the price action
supports to watchout of in the weekly chart once the yearly...
Buy Everest Industries at 494
Long term investment: Time frame 1 to 2 years
Target price: 750
SL: 425
P/E: 17.02
EPS : 28.79
Book Value: 237.84
Market Cap: 765cr
P/B: 2.03
Happy Investing! :)
Enjoy long term investors
Scrip has given breakout from right leg of H&S inverted pattern and gap is formed however, breakaway gap is needed with bulls taking the lead for momentum.
Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above SMA-200 which gives strength to ongoing momentum
2) Didnt get affected much during recent NIFTY 0.70%...
Scrip has given breakout from right leg of inverted H&S pattern and gap has occured however, Breakaway gap is necessary to see the bullish momentum and for scrip to reach new highs after 52-week high
Target price aimed for if the scrip manages to attain breakaway gap surge
Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15...
Breaking out of a huge Cup and Handle of in the making since the past 2 years, the stock seems ripe for good days ahead. Keeping a trailing SL of 358 on closing basis the stock can perform well going ahead!
