EDELWEISS - Double Bottom (Weekly TF) + Bullish H&S (Daily TF)
This analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF as well as on Weekly TF hence it may take few days to several weeks for price to reach the given target.
Stock gave good breakout with volume from H&S Pattern. It came down to retest the level and now has formed very good reversal pattern (MORNIGN STAR PATTERN). This pattern confirms that the stock is ready to move up.
Entry can be made either above the high of today's green candle or it can be accumulated between 70-80 range.
SL level & Target levels are mentioned in the image itself.
Kindly check the below image to understand the Double Bottom Formation in the stock.
Also check the related idea linked below for better understanding of Double Bottom Patterns.
This is not a trade recommendation. Do your own study before entering into any trade.
Trade with your own risk & money management.
Feel Free to comment for any query or suggestion.
Analysis is done on Daily TF as well as on Weekly TF hence it may take few days to several weeks for price to reach the given target.
Stock gave good breakout with volume from H&S Pattern. It came down to retest the level and now has formed very good reversal pattern (MORNIGN STAR PATTERN). This pattern confirms that the stock is ready to move up.
Entry can be made either above the high of today's green candle or it can be accumulated between 70-80 range.
SL level & Target levels are mentioned in the image itself.
Kindly check the below image to understand the Double Bottom Formation in the stock.
Also check the related idea linked below for better understanding of Double Bottom Patterns.
This is not a trade recommendation. Do your own study before entering into any trade.
Trade with your own risk & money management.
Feel Free to comment for any query or suggestion.
