TATA MOTORS: Ascending Triangle Bullish Breakout
Ascending Triangle Pattern formed in TATA MOTORS.
You can clearly see a Rising Lower trendline which is acting as a support line. Stock is taking its support on the line and has avoided any downside movement.
Upper trendline is flat acting as resistance line.
Positive Points:
1) Ascending triangle pattern which is commonly known for bullish sign.
2) CMP is Near its 52W High of 360
3) RSI is ~60 which shows bullish indication
4) ADX > 25, indicating string trend.
Entry:
After breakout.
Aggressive buyers can take entry after breakout ( Volume is important for breakout)
Defensive buyers can wait for a pull back for confirmations
Target :400
Duration :
short to mid term position
You can clearly see a Rising Lower trendline which is acting as a support line. Stock is taking its support on the line and has avoided any downside movement.
Upper trendline is flat acting as resistance line.
Positive Points:
1) Ascending triangle pattern which is commonly known for bullish sign.
2) CMP is Near its 52W High of 360
3) RSI is ~60 which shows bullish indication
4) ADX > 25, indicating string trend.
Entry:
After breakout.
Aggressive buyers can take entry after breakout ( Volume is important for breakout)
Defensive buyers can wait for a pull back for confirmations
Target :400
Duration :
short to mid term position
Trade fechado: stop atingido
Stop loss triggered due to bad news on the stock
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.