Laxmi Organic - Bullish Divergence and Breakout from Triangle
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Weekly Chart Insights:
Bullish Divergence:
Time Period - 26 March to 12th May
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
- Symmetrical Triangle Pattern: Over the past years, Laxmi Organic Industries Ltd has formed a symmetrical triangle.
- Breakout Confirmation: Recently, the price broke above the upper trendline of the triangle.
- Retest of Breakout: The price action is retested the breakout at the Trendline and has moved upwards now.
Bullish Divergence:
Time Period - 26 March to 12th May
- Lower Low in Price - Price went from 235.2 to 228.5
- Higher Low in RSI - RSI went from 37.2 to 37.6
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
Commento
Price seems to have bounced off the trendline again.
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