APOLLOTYRE broke out from channel and is about to break out from pole & flag pattern:
Buy above 135, Target 145 160 180 and SL 129
Disclaimer: "Educational purpose only"
The stock is in uptrend since May 20 and after touching a high of 22.3 it has formed a descending triangle pattern. Currently trading at 19.15, at the verge of upside break out and RSI is also above 50 on both 1h and Daily chart. If the pattern is broken then we can see up move upto target1 22, target2 25.
APOLLOTYRE is taking good support(5 times) on the bottom trend line. After spending almost 6 days near the bottom trend line the stock has broken the support, also the RSI on daily chart went below 50 level, indicating bearishness in the stock, expecting it to fall till 98 level.
