Potential Bearish Butterfly setting up in Kalvista$Kalv setting up for a potential Bearish Butterfly
But it's still early to say for sure !!!
PRZ will be 9.33
I expect only to see T1 (8.28) happening due to - a completion of the pattern will break an important resistance line going way back. That could send the price of this stock very high. (Gaps to be closed).
T2 come in at 7.61
Time will show!
Best to your trading!
WallStScalper.com
P.S Prior of posting this pattern I made a chart with a pattern showing a truncated B to C-leg - in what I called a potential Bearish Cypher. In lack of a name of this pattern which I often see in all trading categories - I called it a Bearish Cypher pattern. See chart below
The truncation of the B to C-leg makes it perhaps more suitable calling it a double bottom B to C-leg. It has the characteristics of always surpass the recent low (X to A leg) a little further than the X to A leg due to the natures of the B to C-leg taking stops out that have been place right under the X to A leg endpoint.
Perhaps it's better calling it a Bearish truncated Cypher Pattern. Anyway for your future trading - be aware of this truncation in the pattern that will give you an edge in trading harmonic patterns.
Lastly: There is nothing to prevent a full pattern happening either.
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