Samvardhana Motherson just made a triangle breakout.will it sust
Just broke out of triangle pattern with good volume spike. Volumes are 3 times the average.
It brokeout of treandline on 12 September and gave a move of 10% before entring into consolidation of triangle pattern.
It just broke out of the pattern giving bullish signal.
Indicators
RSI is >60 which is a bullish signal
ADX is still weak at 13.38 although rising when compared to day before when it was 10.9
Entry at 110 looks safe
Might retrace till 100
SL at 95
Target at 119--130
It brokeout of treandline on 12 September and gave a move of 10% before entring into consolidation of triangle pattern.
It just broke out of the pattern giving bullish signal.
Indicators
RSI is >60 which is a bullish signal
ADX is still weak at 13.38 although rising when compared to day before when it was 10.9
Entry at 110 looks safe
Might retrace till 100
SL at 95
Target at 119--130
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