1. Its good time to enter into trade, just assuming a forming of rounding bottom in future and one can put stop loss below the bottom for the target of upper neckline.
2. Entire chart history has been mentioned on the chart so you can analyze by yourself and update your view into comment section for my knowledge.
1. I am little bit cautious on this chart.
2. Its definitely we can see the breakout candle on chart which has broken yellow neckline.
3. But here is crux point, its called concept of space. after breaking out previous resistance, there is immediate another major hurdle from where the price rejected two times and the major trend of this stock is also bearish on...
1. In previous 3 to 4 trading days, Volume has been constantly increasing and moving towards all time high.
2. we can assume, if all time high broken and sustain in this month, the reward would be much higher than Risk.
1. Multiyear breakout done on WTF with huge volume. As well as All time high also broken and sustain on HTF for the target of 230/250.
2. Its also broken inverse head and shoulder pattern and continue trading above the breakout line.
1. A Morning Star candlestick pattern on higher time frame (Weekly), therefore the reliability/accuracy of this pattern is much higher and its formed near support level.
2. Its strong trend reversal pattern and can be a trade with small risk and higher reward.