Basic trading techniques action point on INDIGO...!!!
In a easy language if the price will cross 939 price there will be a fall.
Currently price will penetrate and if cross 987 then possibility is it can go 1019. Stop-loss maintain 976 nearby
Also consider this stock have too many pin-bar the price movement is fast.
Pin Bar, which is short for 'Pinocchio Bar,' is a single candlestick setup that clues price action traders into potential reversals in the market. A pin bar is an elongated wick that 'sticks out' from price action. Traders will usually look for one-sided wicks that are two times the size of the candlesticks body.
----------Daily chart----------
In a daily chart the stock have already made head and solder pattern.
After price rejection towards up, it break and went towards down direction.
The stock is currently making a Symmetrical Triangle
As the price moves toward the apex, it will inevitably breach the upper trend-line for a breakout and uptrend on rising prices or breach the lower trend-line forming a breakdown and downtrend with falling prices.
Traders should watch for a volume spike and at least two closes beyond the trend-line to confirm the break is valid and not.
Currently price will penetrate and if cross 987 then possibility is it can go 1019. Stop-loss maintain 976 nearby
Also consider this stock have too many pin-bar the price movement is fast.
Pin Bar, which is short for 'Pinocchio Bar,' is a single candlestick setup that clues price action traders into potential reversals in the market. A pin bar is an elongated wick that 'sticks out' from price action. Traders will usually look for one-sided wicks that are two times the size of the candlesticks body.
----------Daily chart----------
In a daily chart the stock have already made head and solder pattern.
After price rejection towards up, it break and went towards down direction.
The stock is currently making a Symmetrical Triangle
As the price moves toward the apex, it will inevitably breach the upper trend-line for a breakout and uptrend on rising prices or breach the lower trend-line forming a breakdown and downtrend with falling prices.
Traders should watch for a volume spike and at least two closes beyond the trend-line to confirm the break is valid and not.
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