KPIGREEN has recently experienced a significant bullish run, pushing its stock prices to new highs. Following this surge, the stock appears to be forming a classic pennant pattern, which is a continuation pattern often indicating that the prior trend will resume after a period of consolidation.Breakout Potential: If
KPIGREEN breaks above the upper trendline of the pennant with increased volume, it could signal the continuation of the bullish trend. Traders might look for a breakout above the resistance level as a buy signal.Target Price: The height of the initial flagpole (the previous uptrend before consolidation) can be projected from the breakout point to estimate the potential upside target.
Stop Loss: To manage risk, consider placing a stop-loss order just below the lower trendline of the pennant. This helps protect against downside risk if the pattern fails and the price breaks below support. As always, proper risk management and due diligence are essential when trading pattern formations.
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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.