The stock appears to be in a downtrend but is showing potential for a reversal with a breakout pattern forming.
A breakout just occurs above the downtrend line suggests a potential bullish reversal.
The price is currently below down Kumo, which indicates resistance. A breakout above Kumo could reinforce bullish momentum.
Monitor the trading volume during breakout attempts. Increased volume is a strong confirmation signal for a breakout.
Y wave with target movement towards point (E) within stipulated time.
Suggested entry on breakout with all the TP.
Set a proper stop loss, ensuring a manageable risk-reward ratio.
Note:
1. Analysis for education purpose only.
2. Trade at your own risk.
A breakout just occurs above the downtrend line suggests a potential bullish reversal.
The price is currently below down Kumo, which indicates resistance. A breakout above Kumo could reinforce bullish momentum.
Monitor the trading volume during breakout attempts. Increased volume is a strong confirmation signal for a breakout.
Y wave with target movement towards point (E) within stipulated time.
Suggested entry on breakout with all the TP.
Set a proper stop loss, ensuring a manageable risk-reward ratio.
Note:
1. Analysis for education purpose only.
2. Trade at your own risk.
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.