The stock formed a double-top pattern where distribution came into play followed by a markdown phase.
Sequentially, considering the double-bottom formation at the trend line's support associated with higher than average volume, we are in the accumulation phase for the stock.
It is a good opportunity to take a long position for the swing trading at CMP; SL-...
As per the chart, there's a clear positive divergence on the hourly time frame.
On the daily time frame, the prices are at a crucial support zone with a bullish harami candlestick pattern hinting at a bullish reversal.
Prices have also breached the trend line confirming the entry signal on the hourly chart.
You can consider adding a fresh long position here...
On the hourly time-frame chart we can observe the positive divergence against the prices.
As the candles have broken out from the trend line it was a good entry confirmation.
Stop-loss will be the low of the swing.
First target level will be 291 levels.
The distribution phase is when large funds and institutional investors sell their shares at a high price in order to maximize their profit.
Because institutional investors and large funds hold large positions (> 1 million shares), they cannot close their positions with a single sell order because doing so will draw attention to the stock, causing other market...
Stop-loss, target, and the pattern can be inferred from the chart.
There is an expansion in volume before the breakout candle, based upon the price analysis of the volume.
The large volume bar and the comparatively broad candle prove that the breakdown is true.
There's a bull-flag breakout on the daily time frame with substantial volume.
The first target is expected at 707.95.
However, the pattern's target is at 748.55.
SL is mentioned on the charts.
*Kindly follow your due diligence before taking positions.
As you ca observe on the charts,
My near term outlook for #VGUARD is bearish.
On the 20th of July 2021, the selling candles broke the neckline (support) in the downward direction thereby completing the double-top pattern formation.
Expecting further down move in the prices.
Bull-flag pattern can be spotted on the daily time frame.
A price breakout supported by humongous volumes can be seen on the chart today
With an appropriate SL one can expect price moves upto ~3500 level.
As can be seen in the chart,
In the past, in 2018 and 2019, UBL has formed a triple-top pattern.
UBL is now edging closer to the same resistance level of 1478.95.
On the daily chart , we can see a bullish marobuzo, and on the weekly TF, we can see a hammer candle near the trendline.
Bullish candles and the absence of the concept of four-tops formation suggest...
With steady volumes, there was a breakout over the prior high today.
A break of the 1573.65 near-term resistance level could lead to a target of 1850 levels.
Small amounts can be added in three stages:
1. Anticipating an breakout(now)
2. During the actual breakout
For educational purposes only.
Kindly follow your due diligence prior to taking positions.
- Ascending Triangle pattern breakout with the promising volume on the breakout candle
- Stop-loss is placed at 3% of the prices below the breakout level
- Risk to Reward ratio is attractive
-Width of the triangle is projected as the target
- Scaling out can be followed
With more than the normal number of volumes, prices have currently surpassed the significant resistance levels of 638 for the years 2018 and 2020.
We may think of it as an ascending triangle breakout for swing trading purposes.
The charts show the stop loss and target levels.
Bullish Flag breakout on both daily and weekly time frame
Set up is bullish and valid only if the prices close higher than 124.65 at the end of the day
Volumes are good
Stop loss and targets mentioned on chart
Why take this trade?
A triple bottom breakout on the daily charts after retest + today's candle taking support on the rising trendline (higher lows connected) + good volumes
When to initiate entry?
The candle needs to close above 814.10 at the end of the day
SL is 5% below the breakout level
Target - width of the pattern projected from the...
On the daily chart, there is an ascending triangle breakout pattern.
On the weekly time frame, there is a flat top breakout.
Target: The triangle's width is measured and projected from the breakout level.
Stop loss: 5% less than the breakout level.