Ashok Leyland daily chart:
The stock was in a descending channel (bull flag), indicating a pullback in a larger uptrend.
It recently had a bullish breakout from the channel with strong momentum, suggesting the bulls are trying to resume the uptrend.
Price is now pulling back to the breakout zone (~231), which is a typical "breakout pullback" setup.
As long as price stays above the support zone (~231), the trend is bullish with a potential target near 255 (measured move).
If the price drops below 214, the breakout may fail, and a deeper correction could follow.
Summary: Bullish breakout with a healthy pullback; watch for a bounce near 231 to confirm continuation toward 255.
The stock was in a descending channel (bull flag), indicating a pullback in a larger uptrend.
It recently had a bullish breakout from the channel with strong momentum, suggesting the bulls are trying to resume the uptrend.
Price is now pulling back to the breakout zone (~231), which is a typical "breakout pullback" setup.
As long as price stays above the support zone (~231), the trend is bullish with a potential target near 255 (measured move).
If the price drops below 214, the breakout may fail, and a deeper correction could follow.
Summary: Bullish breakout with a healthy pullback; watch for a bounce near 231 to confirm continuation toward 255.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.