POV: NAM_INDIA - Ascending Triangle Breakout
POV: NAM_INDIA - Ascending Triangle Breakout
1️⃣ Breakout:
On Dec 10, 2024, the stock broke out of an Ascending Triangle pattern with a strong Marubozu candle.
2️⃣ Volume:
The breakout was supported by extremely high volume, confirming strength.
3️⃣ Momentum & Trend:
Daily and weekly timeframes show momentum and trend in perfect sync.
4️⃣ SMA 200:
A steadily rising 200 SMA adds extra confidence for a long position.
5️⃣ Concerns:
High range expansion results in a wide stop-loss (SL).
RSI is in the overbought zone (common for such breakouts). A pullback entry is advisable instead of jumping in directly.
Disclaimer:
For educational purposes only, not financial advice.
#NiVYAMi
1️⃣ Breakout:
On Dec 10, 2024, the stock broke out of an Ascending Triangle pattern with a strong Marubozu candle.
2️⃣ Volume:
The breakout was supported by extremely high volume, confirming strength.
3️⃣ Momentum & Trend:
Daily and weekly timeframes show momentum and trend in perfect sync.
4️⃣ SMA 200:
A steadily rising 200 SMA adds extra confidence for a long position.
5️⃣ Concerns:
High range expansion results in a wide stop-loss (SL).
RSI is in the overbought zone (common for such breakouts). A pullback entry is advisable instead of jumping in directly.
Disclaimer:
For educational purposes only, not financial advice.
#NiVYAMi
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.