Bullish Flag Pattern Breakout in EICHERMOT
Stock Name: EICHERMOT
Timeframe: 1 Hour
The chart shows the formation of a Bullish Flag Pattern, indicating a continuation of the previous uptrend.
Key elements are:
Flag Pole: The initial strong upward move, forming the base of the bullish pattern.
Flag Resistance: The upper boundary of the flag pattern, highlighting the short-term consolidation.
Flag Support: The lower boundary of the flag, providing support during the consolidation phase.
Targets:
Initial Target: 5010+ (marked as the first breakout target)
Target 2: 5080+
Final Projected Target: 5150+
Stop Loss: Below 4850
If the price sustains above the breakout level, the bullish rally could continue, with potential to hit the projected targets. Conversely, any downside risk exists if the price falls below 4850, triggering the stop loss.
Timeframe: 1 Hour
The chart shows the formation of a Bullish Flag Pattern, indicating a continuation of the previous uptrend.
Key elements are:
Flag Pole: The initial strong upward move, forming the base of the bullish pattern.
Flag Resistance: The upper boundary of the flag pattern, highlighting the short-term consolidation.
Flag Support: The lower boundary of the flag, providing support during the consolidation phase.
Targets:
Initial Target: 5010+ (marked as the first breakout target)
Target 2: 5080+
Final Projected Target: 5150+
Stop Loss: Below 4850
If the price sustains above the breakout level, the bullish rally could continue, with potential to hit the projected targets. Conversely, any downside risk exists if the price falls below 4850, triggering the stop loss.
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