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HEKTAS

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HEKTS trade ideas

Descending Broadening WedgeA descending broadening wedge is a bullish reversal pattern that is formed when a stock's price is contained within a downward sloping wedge, but the width of the wedge is expanding. This indicates that there is increasing buying pressure, even though the price is still falling. To confirm a descending broadening wedge, the price must break above the upper trendline of the wedge. Once the breakout has occurred, traders will typically enter a long trade with a stop loss placed below the lower trendline of the wedge. As you can see, the price of BIST:HEKTS has been contained within a downward sloping wedge since November 2022, but the width of the wedge has been expanding. This indicates that there is increasing buying pressure, even though the price is still falling. If the price of BIST:HEKTS breaks above the upper trendline (TRY29) of the wedge, it would be a bullish signal and could lead to a further advance in price. Traders who are bullish on BIST:HEKTS should look to place their stop losses below the lower trendline of the wedge. It is important to note that the potential descending broadening wedge pattern in HEKTS is not yet complete. The price needs to break above the upper trendline of the wedge to confirm the pattern. However, the pattern is worth watching, as it could be a sign that BIST:HEKTS is about to reverse its downtrend. Broadening wedges can be difficult to trade for a number of reasons: False breakouts: Broadening wedges are prone to false breakouts, which can occur when the price breaks out of the pattern but then quickly reverses back inside. False breakouts can be caused by a number of factors, such as market volatility, news events, and stop-loss hunting by other traders. Difficult to spot: Broadening wedges can be difficult to spot on a chart, especially for new traders. The pattern can be confused with other chart patterns, such as triangles and flags. Long time to develop: Broadening wedges can take a long time to develop, which can lead to frustration for traders who are trying to trade it. Traders may have to wait weeks or even months for the pattern to complete before they can enter a trade.
BIST:HEKTS
by aragornthegray
WHY TO GO LONG WITH HEKTS?The stock price is moving in to rectangle zone. Prices are bouncing back from the rectangle top level, however reactions are always having a higher low levels. Moving average is above the resistance and already done a pull back. The rectangle area is 3.80 TL and the reference level is 12.37. Target level is 16.17 TL. StopLoss: 11.42 Potential profit per share= 3.80 TL Potential loss per share= 0.95 ROI= 4.00 (Strong) That means, the position can recover from 4 stoploss without any loss by hitting the target once.
BIST:HEKTSLong
by hermes_fx