Whirlpool has good support levels around 1350-1450.
These are the levels, where this stock consolidated for many months, followed by a good move on the upside.
Now, the stock approaching the same levels again, and it could take support here.
Hence keep an eye on the price action near these levels, for spotting any reversal formation in the stock
There is the formation of an inverted head and shoulder pattern on the whirlpool chart and the interesting thing to notice here is that this pattern has formed on important daily chart support.
Hence sustaining 1830-1820 levels, the stock could see good upside in the near term.
On daily time frame, its trading near resistance zone..
in smaller time freme given negative candle. if it sustain above Resistance looking bullish.
it can go down with unable to sustain Support
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Since long-term timeframes are good, and the stock is back again at short-term support, it could be a good time and price to add more into the existing long positions.
Please refer to the linked post for a detailed analysis of the stock.
Whirlpool closed in positive last month forming a Bullish engulfing candle and managed to close above august month highs( hammer candle) another positive sign.
The structure of the stock is maintained as HH and HL
Volume was good both on the hammer as well on Bullish Engulfing Candle.
Now We have a support zone of 2130-2080 on the monthly chart. if the stock...
The stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near swing high.