Elgi Rubber. Turnaround in trend with inverse head and shoulder
Previous trend: Down Trend (66 to 11)
Present trend: Consolidation (price has again tested Neckline)
Support: 23.90 and 16.10
Resistance: 36.55 and 49.15
Reversal Pattern: Inverse Head and Shoulder
Volume: highest volume of 2.7 mn on the day downward trend line broken.
Price invalidation level/stoploss: 22 on Monthly Closing Basis.
Disclaimer: Only for educational purpose. Do trade as per your risk management.
Present trend: Consolidation (price has again tested Neckline)
Support: 23.90 and 16.10
Resistance: 36.55 and 49.15
Reversal Pattern: Inverse Head and Shoulder
Volume: highest volume of 2.7 mn on the day downward trend line broken.
Price invalidation level/stoploss: 22 on Monthly Closing Basis.
Disclaimer: Only for educational purpose. Do trade as per your risk management.
Commento:
36.55 done next stop 49.15
Trade chiuso: obiettivo raggiunto:
high 49.80. done and dusted