RANHILL - Looking for bullish momentum.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.