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GMDC ascending channel (Educational)
GMDC is placed in sweet spot on weekly chart after completing perfect Rounding Bottom Pattern and
multiple Long term Trendline break out .
Scrip should manage to cross the crucial resistance levels marking new highs if candlestick pattern of three white soldier is completed :)
Breakout from resistance line and trendline with higher volume surge and consolidation in "Overbought* situation like seen earlier can take it to new highs
Bullish strength affirmation
1) SMA - 15 SMA is above 200 SMA and ...
Breached Ascending Triangle on Daily basis and forming Cup and Handle on Weekly Basis. Also short term MAR personality is breaching.
Weekly Charts - https://in.tradingview.com/chart/GMDCLTD/s3CkBfYp-GMDC-Cup-Handle-Weekly/
It is forming Cup and Handle on weekly Charts.
Also breaching Ascending Triangle breakout on Daily charts
Daily Charts - https://in.tradingview.com/chart/GMDCLTD/TCT9Gl1U-GMDC-Ascending-Triangle-Breakout-Daily/
Bulls had managed to upbeat the bears resulting in scrip moving upward channel towards greater 52-week highs after rebound
However, Day chart has shown long upper shadow which indicates that the Bears have made an impressive comeback after bulls controlled the trading game for the day!
TP short = Resistance (C) thereafter, scrip can manage to go long if breaks the ...
From the last few months, the volumes in GMDC are surging and celebrity investors also invested. Buy for multiple targets
Trading above previous high and chart suggesting uptrend may continue. SL-114 and 136 short term target achievable