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Breakouts

MRF Ltd. (NSE: MRF) – Technical Analysis UpdatePattern Formation: MRF Ltd. has been forming a cup-and-handle pattern over the past several months, indicating a bullish continuation. The stock has successfully tested the key Fibonacci retracement levels and is now moving towards potential breakout zones. Cup-and-Handle Formation: The rounded cup formed after the stock declined from its peak around ₹150,995 and found support near ₹115,601. The handle has now completed, as the stock consolidated within a falling wedge pattern, building strength for the next leg upwards. Key Resistance Levels: Immediate Resistance: ₹144,045 (4.26% upside) – This level aligns with the upper boundary of the wedge pattern. A breakout above this level would signal strength, confirming the end of the handle phase. Major Target: ₹161,250 (16.54% upside) – This represents the projected target based on the full breakout of the cup-and-handle pattern, leading towards a possible rally to the previous all-time highs. Support Levels: Strong Support: ₹133,298 – This aligns with the 50% Fibonacci retracement level, where the stock has shown significant buying interest during previous dips. Key Fibonacci Levels: 61.8% (₹133,475) and 38.2% (₹129,121) act as pivotal zones for any pullback in case of renewed selling pressure. Volume Profile & RSI: Volume Analysis: The recent volume spikes, especially during the approach to the wedge breakout, show accumulation, confirming investor confidence. RSI: The Relative Strength Index is approaching the 60-70 range, suggesting a healthy bullish trend without overbought conditions. Outlook: If MRF Ltd. breaks out of the ₹144,045 resistance level, it could see a swift move towards ₹161,250, a potential gain of 16.5% from current levels. Traders should look for strong volume confirmation during the breakout for additional momentum. Risk Factors: If the stock fails to sustain above ₹133,298, there could be a deeper retracement to test lower Fibonacci levels, with downside risks towards ₹129,000-125,000.
NSE:MRFLong
by AngshumanSaikia
Symmetrical Triangle Formation in CAMS – Awaiting BreakoutOverview: CAMS is currently forming a symmetrical triangle on the daily chart, a classic continuation pattern. This pattern typically indicates a period of consolidation before the next significant move, and given the stock’s strong previous uptrend, there is a potential for an upward breakout. However, the symmetrical triangle is neutral until confirmed, so both bullish and bearish breakouts are possible. Pattern Breakdown: The triangle is defined by point A (around 4900 INR), where the stock reached a high, and point B (around 3850 INR), marking the recent low. The price has been forming lower highs C (around 4600 INR) and higher lows D (around 4200 INR) as it tightens into the apex. This contraction in price is a sign that the market is undecided, but once it breaks out of the triangle, a directional move is expected. Key Observations: RSI Oscillator: The RSI, set to a period of 14, is hovering around the neutral zone (~50). This shows that the stock isn’t currently overbought or oversold. A move above 70 or below 30 could signal a strong trend in the direction of the breakout. Volume Decline: As the triangle develops, volume has been tapering off, a typical characteristic of consolidation. A significant volume spike will be key in confirming the breakout direction. Breakout Levels: Upside Breakout: A break above point C (around 4,600 INR) could trigger a bullish continuation, given the previous uptrend. Traders should wait for confirmation via price action and volume. Downside Breakout: A breakdown below point D (around 4,200 INR) could signal a bearish reversal, especially if accompanied by increased volume. Final Thoughts: Symmetrical triangles can break in either direction, so it's crucial to wait for confirmation. Given the prior bullish trend in CAMS, there's a greater probability for an upward breakout, but the possibility of a downside move can’t be ruled out. Patience is key—monitor the volume and price action carefully for a strong breakout signal. Disclaimer : This is for educational purpose only. I am not SEBI registered advisor. Take advice from financial advisor before investing.
NSE:CAMS
by jeet20
PEPE/USDT: SWING LONG POSITION!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! PEPE looks good here. It is breaking out from the symmetrical triangle in 4hr time frame. Long some here and add more in the dip. Entry range:- $0.0086-$0.009 Target:- $0.0102/$0.0109/$0.0118/$0.0128 SL:- $0.008 Lev:- Use low leverage (Max5x) What are your thoughts on PEPE's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
220% for Fet in 50Fet's looking to lead the AI charge in the coming weeks we have : Reverse Head & Shoulders: • We’ve got a clean Reverse Head & Shoulders pattern in play, which signals a strong bullish reversal. The base sits just above 1.00 USDT, and we’ve already seen a breakout confirmed at 1.309 USDT. This setup is often the precursor to a significant upward move. Price Targets: • First target sits at 2.032 USDT, a solid 58% gain from the breakout point. • Beyond that, we’re looking at a long-term target of 4.180 USDT, marking a 220% potential increase. This target aligns with the projected upper channel, showing a clear path if bullish momentum continues. Volume & Momentum: • Volume is backing up the move—strong buying pressure is evident with a notable increase in green volume bars. • The momentum indicators (likely MACD) are also bullish, reinforcing the strength of the breakout. This suggests there’s still room for the trend to run further. Historical Reference: • On the right side of the chart, there’s a past pattern with similar price action. After consolidating for 45 days, the price moved sharply higher. While past performance isn’t a guarantee, it’s definitely worth noting the similarities. Strategy: • For those looking to enter, a re-test around 1.309 USDT (now support) offers a solid entry point. • A break above 2.032 USDT could ignite further momentum, potentially driving price toward 4.180 USDT in the coming weeks or months. Watch for sustained volume and bullish momentum to confirm the trend. Summary: Fetch.AI is setting up for a strong move, with a clear bullish pattern and solid upside targets. If momentum continues, the next few weeks could see substantial gains. This is a trend worth watching closely.
Long
by Blockbullder
EurUsd → so bullishhello guys. let's dive into eurusd Breaking the Channel: The price has broken out of a previous channel, which suggests a potential bullish momentum continuation. This breakout is marked as a significant event that has shifted the trend. The Last High Broken: The chart indicates that the last significant high around the $1.1169 level was broken. This breakout above the previous high is a strong bullish signal, suggesting further upward potential. Internal Trendline: There’s an internal trendline within the broader trend that could act as support if the price pulls back. The price might retest this trendline before moving higher. Potential Bullish Move: After breaking the last high, the price may retrace slightly to retest the breakout level or the internal trendline, before continuing its upward move. The next potential target appears to be in the region of $1.1300, where the price may find the next significant resistance. Current Price Action: The price is currently hovering around $1.1166, slightly above the previous resistance, which now acts as support. This area will be critical in determining if the price continues its bullish trajectory or pulls back for a deeper retest. This analysis underscores a bullish outlook for the EUR/USD pair, emphasizing the importance of the broken resistance level and the potential for further gains if the trend continues. Traders should watch for a retest of the breakout level to confirm the strength of the move. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
1
GOlD → stick to the long positionhello guys. I believe gold is still bullish and only long positions are logical. Channel Breakout: The price of gold has broken out of the main ascending channel, indicating a strong bullish move. Fake Divergence: A fake divergence was spotted, but the price continued to rise, rejecting bearish signals. Support Zone: The price is currently hovering above a significant support zone (highlighted in blue), which could serve as a springboard for further upward movement. Target: The next potential target lies near the upper boundary of the newly formed channel, around the $2,550 mark. Summary Breakout: Price broke above the main ascending channel. Support: Holding above a key support zone. Target: Aiming for $2,550 as the next potential resistance level. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
OANDA:XAUUSDLong
by melikatrader94
17