Everything is in the chart.
T1 is given is height of the pole.
T2 is given as cup depth.
T3 is given as rounding bottom depth.
Could keep stop loss at cup and handle breakout level.
P.S : Wait for end of week confirmation on the breakout. Preferable if the breakout is with above average volumes.
Also look for positive signs on indicators like MACD and RSI....
You could call it and Inverted H&S breakout or even a Rounding Bottom/Cup and Handle Breakout.
Target 1 is given as immediate resistance
Target 2 is given as height of the bottom to breakout / height of the head.
Trail SL once T1 is achieved.
R/R ratio looks great.
Let's make some money! Happy Trading.
The stock has broken out of the pennant formation with great volumes.
One can go long for target of the pole's height "d" as given in chart.
SL can be at the new trend line support of pennant or the low of previous breakout candle.
Still stay cautious as may dip a little due to doji formation or may go up. (doji indicates indecisiveness).
Go long if the setup forms successfully.
Great targets and Risk/Reward.
Plus, fundamentally strong company, aggressive expansion, good monsoon forecast will also benefit leading to the formation this setup.
Target according to next resistance matches with the fibonacci's next target.
Triangle breakout on daily chart and rectangle range breakout on weekly chart with great volume.
Keep stop loss at new support as shown in chart.