Stocks in radar #5
https://www.tradingview.com/x/ALwOLySo/
Firstly, stock formed a cup and handle pattern which broke the resistance with good volume.
Secondly, the second breakout is in flag and pole pattern. Both cup and handle and flag and pole are bullish patterns. Flag and pole is the most time-tested pattern with good accuracy and shows strength in bullishness. The stock was continually moving in LH, LL, LH, LL trend.
At one time the price also came below the EMA's. One breakout, and it changed the trend.
Observe the price, volume profile and RSI for better understanding of the chart. The ideal time to buy would be when the stock pullbacks a little, giving you a better entry with small stop-loss.
Keep on radar.
Firstly, stock formed a cup and handle pattern which broke the resistance with good volume.
Secondly, the second breakout is in flag and pole pattern. Both cup and handle and flag and pole are bullish patterns. Flag and pole is the most time-tested pattern with good accuracy and shows strength in bullishness. The stock was continually moving in LH, LL, LH, LL trend.
At one time the price also came below the EMA's. One breakout, and it changed the trend.
Observe the price, volume profile and RSI for better understanding of the chart. The ideal time to buy would be when the stock pullbacks a little, giving you a better entry with small stop-loss.
Keep on radar.
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