Downtrend Line 1 was a steeper decline.
Downtrend Line 2 was more sideways.
Strong accumulation during the sideways movement.
BREAKOUT above Downtrend Line 2 now.
Could be very Bullish if continues to trade above 39K.
Next Resistance Zones marked out in the chart.
Clearest Symmetrical Triangle formation you will ever see.
Multiple rebounds from bottom and top trend lines. Trading within the pattern.
Symmetrical Triangle is a Bilateral Pattern, i.e. can go either way.
Therefore, Technical Analysis needs to be supplemented by Fundamentals to assess more likely outcome.
This Exide Industries Chart is a perfect example of a Head & Shoulders pattern moving into an Inverted Head & Shoulders pattern.
In the H&S pattern, the neckline forms a crucial support level, whereas in an Inverted H&S, the Neckline forms crucial resistance.
In this particular pattern, volumes have increased during formation of the Head & Right Shoulder in...
Inverted Head & Shoulders = Bullish Reversal. Successful re-test of neckline.
No immediate resistance. Increase in Volumes.
Venturing into All-Time High Territory, also known as "Price Discovery Zone" wherein fundamentals will drive how far the push will go.
On the fundamental side, positive developments include:
1) Gradual re-opening of lockdowns and recent...
The Gartley “222” pattern has formed the foundation for many trading techniques and software, over the years, being considered one of the most accurate indicators of price movement.
Here, SUZLON has followed the Gartley Pattern beautifully so far, and could accordingly see further upside towards Price Point A.
Long-term accumulation within a strong wedge. Bottom line of wedge re-tested 5 times.
Breakout on the upside followed by a retest, and gap-up opening today.
With easing out of lock-downs, re-opening of economy and increase in industrial production, BUY call within power sector.
After major decline, long-term accumulation within Rectangular Pattern since March 2020.
There has been a significant increase in Volumes since Dec 2020 though.
The surge in volumes increases the chances of the stock successfully breaking out of the rectangle, on its 4th attempt. This is further supported by a bullish divergence between the Price and the RSI...
$TRIAS is WELL OFF it's All Time High of 32, and has given exponential returns in it's last bull run.
It appears to have bottomed out with an Inverted Head & Shoulders Pattern, and is currently holding up the re-test of the pattern's neckline.
Already well over 100% up since the bottom of this dip, it is showing signs of recovery better than many other...
Accumulation taking place since the beginning of 2021 within the Rectangular pattern.
Breakout of the Bullish Rectangle has been re-tested yesterday and today sustained a closing above the 187 level (top of the rectangle).
Increase in ADX indicative of strengthening of the trend.
Clear Cup & Handle Formation in HDFC, followed by a small breakout of the Handle.
Cup & Handle is a continuation pattern, which suggests that the blip in HDFC's upward trend may be over, and the uptrend is likely to now continue.
Confirmations of the pattern formation/ trend analysis are (1) supported by a bounce back off the 2370 support level, and (2)...
After moving consistently within a Flag formed, the stock looks ready for its next leg up.
However, breakout of the Bullish Flag pattern has been followed by a tentative looking Doji.
Therefore, decision to buy will depend on tomorrow's opening (26.05.2021).
A positive opening looks like an opportunity to buy whereas a negative opening would move the stock...
As per Dow Theory, Indus Towers has over the years formed a classic "Accumulation - Participation - Distribution" pattern which has since mid-2019 reset back into the Accumulation phase.
On the fundamental side, 5G Technology is expected to be one of the big plays in the coming years.
Indus Towers has also slowly but steadily been accumulating into forming a...
WAVES has broken out from its down trend line but has not yet bounced back as hard as most other altcoins from last week's lows.
It is so far trading sideways between the 0.23 and 0.38 Fib levels, but could be headed upwards taking support of and facing resistance from the higher Fib extension levels drawn.
Subject to a large extent to BTC maintaining above...
In what has been an absolutely brutal week for BTC, bullish divergence between the price and the RSI indicator on a 4 hour chart was finally indicative of a reversal in trend.
This was confirmed by more than 3 consecutive green candles after BTC bounced from the 32K support (again).
Now, BTC has broken the downward trend line and also re-tested such break-out....
Long weekly down trend appears to have bottomed out with a surge in volumes forming a "Cup" pattern.
Thereafter, slight retracement from marked yellow resistance zone confirms formation of the "Handle" to the "Cup".
Breakout of the Cup & Handle is indicative of a Bullish Reversal, which could push up towards the next resistance zone.