As per my wave analysis..
Intraday : Prices could go to 400 levels initially.
Swing Trading : Then drop and have a deeper correction to around 350-330 levels .. and will reverse to go up around 450-460 levels ++
Right time to buy around 350 levels or when we get the reversal indication..
Keep you posted on this one..
Three Falling Peak Pattern
1. This pattern is a pattern that signals change in current trend and start of new trend.
2. This pattern is explained by Thomas Bulkowski in his book " Encyclopedia of Chart Patterns "
3. This pattern is used to avoid creating long positions in stock that may enter in bear markets.
Rules of this Pattern
1. There should be a...
Quick Heal Technologies is hovering near its support zone ( 210-206- 200 ) from past 2-3 weeks. The price action suggests that bears are not aggressive at these levels. Volume levels seems to be average.
These levels are definitely crucial for the stock in the near term. Hence any break or close below 200 levels, may see fast move towards 194 or 186 levels.
This is the Chart of Quick Heal on the daily scale, A falling Wedge pattern did appear and the Prices breaks out downward.
Though Falling Wedges patterns are supposed to breakout upwards, but here it breaks out downward.
This pattern forms over a period of approx 6 months.
Break out came with a gap , hence signalling price may go down further.
Support for the...