Reasons/Traits : • Gartley Bullish Harmonic Pattern formation is seen • Todays close is exactly at 0.5 Fib retracement level of last swing high and also taking a support of current up trend • Price took support of 20 EMA today • Stock is still bullish as Bulls are in control as per indicators
What can happen next : Scenario 1 : Stock uptrend to continue and reach 665/675/690/710 Scenario 2 : Downtrend post break down of 0.5 Fib level (654) to reach 640/620/600/580 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!