techtrail

techtrail

Price has been in a downtrend and has managed stage a turnaround recently. Look at the magenta swing - the momentum and volume. The move manged to clear prior swing high, which resulted in the disruption of the sequence of lower highs & lower lows. Now look at the fall from the magenta swing high: The fall has been slow and gentle with relatively lower volume....

techtrail

In the hourly chart presented here, price is clearly making a series of lower highs and lower lows. The important resistance levels are highlighted via the red lines in the chart. In the daily time frame, price is stuck in a trading range and I would expect a slide to the lower end of the range at 770-ish. Just for the sake of understanding price behavior, watch...

techtrail

This stock has been confined to a trading range in the recent weeks. While the overall trend looks bullish, I would prefer to wait for a breakout above the upper red line before taking long positions. 155-156 is the immediate resistance in the weekly time frame. There is a lot higher potential in the monthly charts. Study this chart and plan your trade based on...

techtrail

Have a look at the price action and reluctant move up off the recent lows. Doesn't look like buyers are interested in this stock. Caution is the buzzword until the price clears the recent high of 1,450

techtrail Updated 

Check the annotation in the chart.

techtrail

Have a look at the chart. The blue lines capture major swing highs & lows. After the climactic action at the low, notice the change-in-behavior aka sign of trend reversal when the price moved above the prior swing high. Any pull back and evidence of support at the green lines would get me interested in this stock.

techtrail

Watch the rally or the sharp spike up and the relaxed and slow drift lower to support. The fall indicates there is little selling pressure. Notice the bounce off support via a nice Hammer candle and higher volume. As long as the recent low 730 is not breached, I expect a rally past 772.

techtrail

The stock has been consolidating for a while. A move past 102 would be a big sign of strength and the stock could then rally to 122-125 range. Watch this one.

techtrail

Price has been through a corrective phase. A move past 353.5 would trigger a bullish sequence of higher highs & higher lows. This breakout would also trigger a buy signal in Point-And-Figure chart. Am expecting a quick spike to 400+ in this one, if 353.5 is taken out.

techtrail

The recent fall in the stock has been arrested at the key support level in the daily time frame. In the hourly chart presented here, price is on the verge of completing a "Change-in-Behavior". This happens when the price takes out a prior swing high in a downtrend, or vice-versa. Watch this stock. If I see a strong reversal off the green-support lines, I would...

techtrail Updated 

Will the price manage to clear the top end of the trading range? Am waiting for that event !!!

techtrail

I just aired my thoughts based on the daily chart, a little while ago. I asked the question, what next, in that chart. The zoomed-in view in the lower time frame is just an exercise to look at a few scenarios. IF the price takes support at one of the green lines AND manages to clear the magenta resistance lines, it would be a strong clue that an upside range...

techtrail

Price has been stuck in the broad range of 148-200, captured by the green zone. The recent rally off the green support line represents a higher low within the context of the trading range. If price manages to bounce off the intra-day support at 172-178 range, then I would get interested in the stock. The real clincher would however be a strong breakout & close...

techtrail Updated 

Notice how the sequence of lower highs and lower lows was halted and price flipped around since September lows. Am watching this stock for a breakout above 450 to add more to my holding.

techtrail Updated 

Check the annotation in the chart.

techtrail Updated 

Price is in a strong uptrend in the daily chart. The immediate support is highlighted in the 15-min chart. Will the slide halt at this support? Your Guess is as good as mine. Let price play its card first, we can always react based on that. No Guess Work.

techtrail

Though I am not a big believer of chart patterns, this one caught my attention this morning and hence I am sharing it here.

techtrail

Hope you read my post on NIIT Tech shared earlier today. That was a daily chart and this one is an hourly chart of Dishman. The concept is the same. swing high / low, change of behaviour etc etc. Spend some and you would be doing yourself a big favour.