A Flock Of Seagulls - I Ran www.youtube.com
risk takers can enter at 1495,while safers can enter above 1530
Seems to be forming an Inverted Head and Shoulder. Can go long above 202
Theoretically, FLag and Pennant patterns are short term patterns that take about 3-4 weeks for completion by which point consolidation ends and the prior trend picks up pace. But in this chart the consolidation had been taking place for 9-10 weeks. And finally the much anticipated breakout has occurred and the scrip is giving the classic flag style move ! But...
can give a great move if the breakout is real
breaking out it can move 150 points in short period
risk takers can go long above 1450 , conservatives can wait for 1465.
If stock doesn't take support at trendline, can be a good shorting opportunity
FOR TARGETS USE PIVOT POINTS OR ANY OTHER TECHNIQUE AS PER CONVENIENCE.
or more pain lies ahead??
Half journey from box breakout is complete , now the second leg may begin soon.
At support , can buy at CMP with SL of 125.