Inverted Head and Shoulder patternPark Hotel has been in the buzz lately and with inverted H&S pattern we can see a upside of 10%
This is for educational purpose , consult your financial advisor before investing.
PARKHOTELS trade ideas
PARKHOTELS | Inverted Head and Shoulders pattern formationChart Analysis
1) Inverted Head and Shoulders formation
2) Good EMA 20 support
3) Stock trying to catchup the fall
Head & Shoulder pattern breakout in PARKHOTELPARK HOTELS LTD
Key highlights: 💡⚡
✅On 1 Day Time Frame Stock Showing Breakout of Head & Shoulder Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 240+.
✅Can Go Long in this Stock by placing a stop loss below 179-.
PARKHOTELS LONGThe Elliott Wave analysis indicates that the stock has finished waves (i) and is nearing the end of waves (ii), which are shown by blue numbers on the daily chart.
Wave (i), also known as the impulse wave, unfolded into five waves.
Wave (ii), also known as the corrective wave, unfolded in an a-b-c pattern, as indicated in red.
It is a buying opportunity on the downturn (dip).
Wave (iii) will begin following the completion of wave (ii).
Wave (iii) is expected to have around five subdivisions, which are highlighted in red.
Wave levels are depicted on the chart.
Level of Invalidation
The invalidation level of 167.8 has been identified as the starting point for wave (i). If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears.
I'm not a registered Sebi analyst. My research is done solely for academic purposes.
Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses.
Regards, VJ.
