LAURUS LABS LTDLong
Pennant on LAURSLABS
LAURSLABS formed a Pennant on weekly chart. Price had a good runup prior to formation of pattern with high volume. It also had low volume upon formation of Pennant (i.e. during consolidation). Breakout has happened with above average volume as well. Entry is just above today's high with stop loss just below today's low. This setup has an ideal risk reward ratio. A typical text book setup.
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Hope you like this analysis. If you like this idea please boost this idea or leave a comment below on what your view is. I'll be happy to hear from you. Otherwise, happy trading :-)
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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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.
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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.