Inverse Head and shoulder, Flag pole pattern Persistent systems
In this script we see nice Inverse head and shoulders pattern, Flag and pole patterns.
The retracement or pull back or profit booking took the stock back to 38.2 levels in Fibonacci retracement. As script has revered from 38.2 levels its considered as a shallow correction. Any up move after the breakout is sharp and can help in achieving targets faster.
As per the flag height or height of head the targets come out to be near 7500 levels.
stop loss for such aggressive targets can be near 3900 levels.
The retracement or pull back or profit booking took the stock back to 38.2 levels in Fibonacci retracement. As script has revered from 38.2 levels its considered as a shallow correction. Any up move after the breakout is sharp and can help in achieving targets faster.
As per the flag height or height of head the targets come out to be near 7500 levels.
stop loss for such aggressive targets can be near 3900 levels.
Trade active:
Hi all,
As we can see Persistent systems has give the expected breakout and is moving as per our analysis in right direction. I feel one can trail the stoploss to 5200 on weekly closing basis now and enjoy the journey to 6500. The risk reward is favourable based on revised stop loss so plan your trades wisely :)
Keep Learning & Keep Growing!
As we can see Persistent systems has give the expected breakout and is moving as per our analysis in right direction. I feel one can trail the stoploss to 5200 on weekly closing basis now and enjoy the journey to 6500. The risk reward is favourable based on revised stop loss so plan your trades wisely :)
Keep Learning & Keep Growing!
Trade active:
Hi All,
Greetings of the day!
What a move by Persistent systems since we discussed here near 4800 levels.
If we read the May 16 discussion we see that target of 7500 was given and today its near 7200.
Hope you are enjoying the money gains :)
The script can consolidate for 1 month or so near 7000 7500 levels and then we will evaluate again .
Till then , I will be posting interesting charts for good momentum and fundamentals time to time , so do follow me on 'X' and Tradingview for getting regular updates ;)
Greetings of the day!
What a move by Persistent systems since we discussed here near 4800 levels.
If we read the May 16 discussion we see that target of 7500 was given and today its near 7200.
Hope you are enjoying the money gains :)
The script can consolidate for 1 month or so near 7000 7500 levels and then we will evaluate again .
Till then , I will be posting interesting charts for good momentum and fundamentals time to time , so do follow me on 'X' and Tradingview for getting regular updates ;)