Classic broadening top formation in Ultratech Cement
ULTRACEMCO is in process of forming a classical 5 point broadening top pattern. This is typical of a top and prices take a fall once this formation is complete. If many stock form this pattern in a given market then that is a forewarning of a potential bear market. For this patten to come in play, prices should go down and break the lower trend line but if that doesn't happen then there is nothing to worry ;-)
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