Hi there. Here is a technical analysis of Tatachem where we can soon see the breakout of the channel pattern in which the price has been trading since past few days.
If you observe the last three candlesticks pattern then you can see that it is inside bar candles where there is a mother candle with two babies candle. Whenever any hourly or 30 minute candle closes above the high of the mother candle or below the low of the mother candle we can see breakout or breakdown respectively.
The last day candle is a doji which is an indecisive candle movement in price can occur in any direction but the price is near to its resistance and mother candle's high, I am hoping of breakout.
The stocks seem to be good for swing and positional trade. Note that I am not a SEBI Registered Advisor. Please Consult with your Financial Advisor before investing. This Idea is just for educational purpose.
If you observe the last three candlesticks pattern then you can see that it is inside bar candles where there is a mother candle with two babies candle. Whenever any hourly or 30 minute candle closes above the high of the mother candle or below the low of the mother candle we can see breakout or breakdown respectively.
The last day candle is a doji which is an indecisive candle movement in price can occur in any direction but the price is near to its resistance and mother candle's high, I am hoping of breakout.
The stocks seem to be good for swing and positional trade. Note that I am not a SEBI Registered Advisor. Please Consult with your Financial Advisor before investing. This Idea is just for educational purpose.
Comment:
Hello traders. You can see as I had shared the Idea of Breakout to be seen very soon and it did so. Now the stock price is retracing. Wait for the price to respect support and it will be a buy opportunity again.