The stock is falling and can touch the channel support line first, and if falls below the support, may touch the marked targets.
RSI is Divergence - When price moves higher but indicator is not able to follow the same movement, this shows weakness in the
movement, the stock has moved higher than previous highs but RSI was not able to follow the same (i.e. it is...
Disclaimer - Risk cannot be separated from reward, unlike humans they are loyal to each other.
Tech Mahindra has made a bearish engulfing pattern today on daily charts with volume confirmation (volume on the engulfing candle was higher than previous candle and average volume), the pattern is at a channel resistance. This can be shorted with SL 648.25 and target 551
Disclaimer - There is no such thing as return without risk, the risk and reward are bound together with an eternal bond.
A pennant pattern is similar to flag where after a steep movement with increased volume, the stock consolidates in a small triangular format where the volume decreases significantly, and after the breakout with volume the stock moves in the...