CHEMFAB - LOOKS GOOD

20 mag 2023

There is a positive development as the price breaks above the upper trendline before the triangle reaches its apex. This breakout is accompanied by a noticeable increase in trading volume, which serves as confirmation of the bullish nature of this pattern. It suggests a reversal of the prior downtrend and indicates a potential upward movement in the price.

In summary, the price has shown signs of reaching a bottom and is now displaying a bullish reversal pattern known as a Bottom Triangle. The breakout above the upper trendline, accompanied by increased volume, suggests a potential upward trend in the market.

Conclusion:
The price is in bullish Trend.

Note for everyone who came across this reference:

1. This chart analysis is only for reference purpose.
   
2. This is not buying or selling recommendations.
   
3. I am not SEBI registered.
   
4. Please consult your financial advisor before taking any trade.
   

4 giu 2023

Trade chiuso: obiettivo raggiunto

Target Reached!!