MOREPEN LABORATORI NSE:​MOREPENLAB

The price is still in a downward move, however the recent move which broke the cloud from below and was able to sustain for a couple of weeks above of cloud, means showing signs of exhaustion in selling.

the swing in pink marks and the pink numbers are weekly swing data... rest is the daily swing data more details about the chart http://forum.valuepickr.com/t/bull-therapy-101-thread-for-technical-analysis-with-the-fundamentals/16338/518?u=capsule91 disclaimer... not an investing/trading recommendation

MorePen reverse Head and shoulder Pattern on Daily TF.

I joined later in this year but it is feeling like second home. Hope to have more learning and interaction in 2018... Quoting this chart from Morepen which really blasted for a christmas celebration.

Support at 31 and Resistence at 37-38 levels

Target 33

Accumulation: 680 days Momentum: 7-8 months

CCI(D/W) > 100 TGC on D/W Reversal confirmation on D/W Movement towards 32 ongoing (61.8 Fibo level)

Daily Close > 18.90 and High > 18.65 will confirm the reversal on D basis CCI>100 Volume Surge

Check the annotation in the chart.