There is another flag/pennant setup occurring for a chance to add to an open position or buy the stock. The trend is up the but volumes have dropped of slightly in days past so err on the side of caution and apply your risk management. Next limit 6700
You can see a pennant formation in this dailychart of Kotak Mahindra, most likely to give a breakout. Pennant A gave a breakout but sellers took the hold and price again tested the support level and again buyers took the charge. Stock has touched 1702 support level many a times never breaking down. Buyers always take the hold of it whenever it touches the support...
Q: What has the highest probability of occurring?
In April through July Bitcoin lost over 50% of its value, a crash from its all time high of $64,879.80 per bitcoin.
There is 1 classic pattern that is validating today.
The bull pennant, has tested its pattern high at 50,500 respectively.
Using Bulkowski's knowledge on pennants he states, "They perform an...
As you can see on the chart now, we are creating a Bullish Pennant pattern, the MACD on the 12h chart indicates showing the following days of growth, RSI divergence LOW.
We are still rejecting resistance 51300-49300. If we break through, there will be a new resistance zone on the border.
Subject says it all in this one. Although now that it is the weekly time frame you cant see the golden cross ont he daily chart you can still get a clearer view of how the two patterns work together as bullish confluence. If the yellow pennant confirms its bullish breakout, odds are good that the larger light blue symmetrical triangle will as well. *not financial advice*