Hello guys, So I have found a trade of the FMCG sector-NESTLE, it's consolidating in a symmetrical triangle pattern and looks ready to give the breakout for upside movement.
All the required info is in the chart above, take a look.
Targets mentioned in the chart above (white lines)
RSI has room for BULLS.
MACD turning BULLISH
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Nestle has been trading in a range since April 2020.
In technical terms, this particular range formation is called descending triangle, this patterns generally forms in downtrend and acts as continuation pattern, but in this case the structure of the stock is of uptrend, this bearish pattern may act as reversal pattern, because it indicates distribution , so i...