FATIMA, Bearish Divergence on Target Completion Cup and Handle
Breakout appeared
Cup and Handle projection almost complete
Bearish divergence developing
Trade with caution
FATIMA trade ideas
FATIMA1. Price in up Trend
2. Forming Accending Channel
3. Price Multiple times test Resistance
4. Volume supported Price movement
5. Momentum is Positive
6. No Bearish Divergence
Risk Management | Discipline | Stop loss is your Friend
FATIMA FERTILIZER | Formation of Cup & Handle PatternThe Cup & Handle pattern in Fatima Fertilizer appears poised to materialize upon satisfying its critical levels. Initial resistance is anticipated at 55.60, serving as the initial target. Potential rejection at this level could indicate the formation of a double top pattern, prompting the need for price consolidation to form the handle of the pattern. A breakout above the neckline would signal further upward momentum, with subsequent targets at 57.94 and 59.99.
More Points for BullsBullish on Weekly as well as Monthly TF
However, Bearish Divergence is also
observed on Weekly TF
FATIMA Energy Regained. Another Rally.FATIMA is a fertilizer compony. From September 2023 it has been gaining the grounds and steadily moving upward. It touched the high of 33.70 in mid October.
Than started the process of retracement to the 0.38 level. In last two weeks it has shown considerable momentum. In current week volume has been very high which is another positive sign.
Icing on the cake is crossover of RSI to its moving average.
Aggressive buyers may buy at current level and cautious one may wait for the break of recent high i.e. above 33.70
Have a profitable trading.
