This is Daily Timeframe.
For last 6 months, Shyam Metalics is in downtrend.
Downtrend was smooth, but things changed after the Mid-December.
It rejected downward move by forming a hammer candle on 20th Dec. 2021.
After this, it started showing some strength, formed bullish candles with volume support.
Then after small retracement, it again formed a hammer candle
and then formed bullish candle(28th Dec.) with good volume.
This is the breakout candle that gave breakout
from the falling wedge pattern.
After breakout,
consolidated and formed a small range and
today it gave breakout from that too with volumes.
These are strong indications that the downtrend that was going for almost half year is to an end.
This post is for information purpose only.
For last 6 months, Shyam Metalics is in downtrend.
Downtrend was smooth, but things changed after the Mid-December.
It rejected downward move by forming a hammer candle on 20th Dec. 2021.
After this, it started showing some strength, formed bullish candles with volume support.
Then after small retracement, it again formed a hammer candle
and then formed bullish candle(28th Dec.) with good volume.
This is the breakout candle that gave breakout
from the falling wedge pattern.
After breakout,
consolidated and formed a small range and
today it gave breakout from that too with volumes.
These are strong indications that the downtrend that was going for almost half year is to an end.
This post is for information purpose only.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。