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ACC making Descending Triangle -Does bottom still to come?

NSE:ACC   ACC LIMITED
Hello Guys,

ACC making Descending Triangle and my technical observation said that Bottom is still not found. Should be dump hard in a couple of weeks or a month.


What is a Descending Triangle?

Ans:
The descending triangle is a bearish continuation sample. The sample is usually found in a downtrend. There are few times the pattern is seen during an uptrend acting as a reversal sample but is considered as a bearish sample irrespective of where it occurs. The descending triangle is likewise referred to as right angle triangle because of it shape. The horizontal line acts as a region of guide. it's far as if there may be heavy shopping for hobby at this degree stopping the stock from falling similarly. it is the lower highs alongside the declining trend line that signals greater promoting pressure and gives the pattern its bearish characteristic.

The technical goal is arrived at through computing the vertical top of the sample and including this height to the breakout point. it can also be computed by means of drawing a line parallel to the base of the triangle through the trough of the primary correction.
I am sure it has hit SL before breaking down. Were you not able to predict the jump before the breakdown? Lessons learnt :)
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