CG Power is showing strong bullish momentum, having previously surged by 85.31% within a defined bullish flag pattern. Following a healthy consolidation, the stock has successfully tested and held the triple bottom support line, signaling potential for further upside movement.
Key technical indicators suggest a likely breakout from the flag pattern in the coming sessions, with a potential 13.24% move towards the next target of ₹838.70. The stock is currently trading above its key moving averages, indicating sustained upward momentum, while the MACD presents a bullish crossover, reinforcing a positive outlook.
Key Observations:
Key technical indicators suggest a likely breakout from the flag pattern in the coming sessions, with a potential 13.24% move towards the next target of ₹838.70. The stock is currently trading above its key moving averages, indicating sustained upward momentum, while the MACD presents a bullish crossover, reinforcing a positive outlook.
Key Observations:
- Bullish Flag Pattern: Indicates continuation of the prior uptrend.
- Triple Bottom Support Line: Strong support zone holding around ₹680.
- Volume Profile: Shows healthy accumulation, with strong buying interest near current levels.
- Potential Upside Target: ₹838.70 (based on flag pattern breakout).
A breakout above ₹738 would confirm the next leg of the uptrend, and traders should monitor this level closely. Overall, CG Power continues to display robust technical strength, positioning itself for a potential rally.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.