Technical Analysis: CNERGY (Ticker: CNGY)
Pattern Analysis: CNERGY shows a bullish falling wedge pattern, hinting at a potential reversal.
RSI Analysis: RSI (30-70 range) supports bullish momentum without divergence.
Trade Tip: Consider going long above the neckline at ₹4.61 with a stop-loss at ₹4.27.
Target: A double bottom pattern suggests a target of...
"It looks like Cnergy is on the verge of a bullish reversal and may soon enter an upward trend. The RSI is showing bullish divergence 📈, and there's a bullish reversal pattern forming in the shape of a falling wedge. I recommend placing a buy stop order at 4.60, to be triggered upon the LH and neckline break. Alternatively, you can consider partial buying at...
We can attempt to buy CNERGY if it gives breakout of above trendline of symmetrical triangle pattern , target would be 6.3 .
We can attempt to short CNERGY if it gives breakout of below trendline of symmetrical triangle pattern , target would be 2.61 .
Currently We can use wait and see approach and act from specified level.
Engaging in trading activities by relying on the analysis of patterns involves the systematic examination of historical price movements and formations in financial markets. Traders who employ this approach typically scrutinize charts and identify recurring patterns, such as triangles, head and shoulders, or candlestick formations, to make informed decisions about...
Price rejected from resistance level in last trading session. If 3.7 level sustains we expect pull back and this time breaks resistance above 4.10. First and second targets are 5.10 and 5.60 respectively. However, risk is defined below 3.70
CNERGY:PSX is presently in downtrend in 1D timeframe. However a bullish divergence on RSI indicates an end of existing trend and a likely bullish reversal. Long entry through buy stop has been marked above previous swing high. SL has been suitably placed below last LH. TP has been set @ 1:1 RRR.
