The stock has given a breakout from its inverted H&S formation and is currently retesting the breakout.The volume chart also indicates good strength. The possible targets with entry & exit points are indicated on the chart.
Reasons to consider this trade-
1. The coin has given a breakout above its trendline and is now retesting
2. The double bottom pattern has also been breached.
The trade is currently taking support from its 50 ema and looks good to go after its long consolidation. The entry points with stop loss and the possible targets are being marked on the chart.
On a daily time frame, the stock has given a breakout of its falling wedge pattern, and now it might as well give a breakout of the inverted H&S pattern. The volume chart also indicates the volume build-up over the past few days. A trade can be initiated above 555 for a target of 640.
Each time the stock falls, it takes support from the trendline and climbs back. Nonetheless, the stock couldn't sustain the December fall and breaks the trendline. After the breakdown, the stock was framing a falling channel pattern, from which it effectively gives a breakout and is at present trading over its trendline. The stock can possibly go up to the level...
Eicher motors gave a breakout from the falling wedge and the double bottom pattern that it was forming. The stock is currently taking support at its 50 and 200 ema and can be good upside potential in the near term with the possible targets being marked on the chart.
NIIT LTD on a daily time frame is currently forming a bullish flag pattern. Upon drawing Fibonacci retracement, the chart also took retracement from 0.5s levels which is a healthy sign in itself. The stock looks good above the levels of 441.
Cipla, which appears to be breaking down on from its critical support, abruptly reverses course and begins advancing in the opposite direction with high volume. This indicates that buyers are interested in the stock, which could have a high potential in the near future. The stock is resting at its 200-day moving average and has a good R: R =1:3.
On the 4-hour time frame, Ethereum has been forming a falling wedge pattern, with its supports and resistance levels being tested many times. If the resistance is breached with volume, new positions could be added.
Infosys breaks out from a very rare diamond pattern on a daily time frame. The volume chart also indicates the buyers' accumulation over time.
Currently, the stock moves up taking support from its 50 Ema, and can be a potential upside candidate.
On a 4-hour time frame, BTC is forming a descending triangle, indicating the continuation of a bearish pattern. It can, however, bounce back from the levels, and all of the key levels are marked on the chart.
A good volume was observed since last few trading days. However, anyone speculating this stock must wait for a confirmation or a back test to confirm their position into this share.
Entry - CMP
Target - 2027