Pattern Formation
• The stock ADF Foods Ltd had been in a short-term downtrend, making lower highs and lower lows within two converging trend lines, forming a falling wedge pattern.
• The upper trend line connects the series of lower highs, while the lower trend line connects lower lows, converging towards a point — indicating declining bearish momentum.
• This typically represents a bullish reversal pattern that forms after a decline.
Breakout Confirmation
• Price has broken above the upper trend line of the wedge, signaling a potential trend reversal.
• The breakout candle is supported by increased volume (188.5K), confirming buying participation.
• The stock is now trading above short-term EMAs (9 & 21), reflecting a shift from bearish to bullish momentum.
Key Parameters
Parameter Value
Pattern Falling Wedge
Breakout Level ₹220
Target (Projected) ₹300
Intermediate Resistance ₹240 – ₹250
Stop-Loss Below ₹208
Disclaimer:
This analysis is for educational and informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. Please conduct your own research or consult a qualified financial advisor before making any trading decisions.
• The stock ADF Foods Ltd had been in a short-term downtrend, making lower highs and lower lows within two converging trend lines, forming a falling wedge pattern.
• The upper trend line connects the series of lower highs, while the lower trend line connects lower lows, converging towards a point — indicating declining bearish momentum.
• This typically represents a bullish reversal pattern that forms after a decline.
Breakout Confirmation
• Price has broken above the upper trend line of the wedge, signaling a potential trend reversal.
• The breakout candle is supported by increased volume (188.5K), confirming buying participation.
• The stock is now trading above short-term EMAs (9 & 21), reflecting a shift from bearish to bullish momentum.
Key Parameters
Parameter Value
Pattern Falling Wedge
Breakout Level ₹220
Target (Projected) ₹300
Intermediate Resistance ₹240 – ₹250
Stop-Loss Below ₹208
Disclaimer:
This analysis is for educational and informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. Please conduct your own research or consult a qualified financial advisor before making any trading decisions.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.