Here’s a detailed analysis of PCBL on Daily Chart
1. Trendline
A downward sloping trendline is drawn from previous swing highs, indicating a resistance zone. The recent price action shows that the stock has broken above this trendline with strong momentum, suggesting a potential trend reversal or breakout.
2. Volume
The chart highlights rising volumes as the price breaks out of the trendline. Increasing volume during a breakout adds strength to the move, confirming that buyers are stepping in.
3.Price Pattern
A Triple Double Bottom pattern is visible at the bottom, marked by three distinct touches at the same support level. A triple bottom is a bullish reversal pattern, and the breakout above the trendline validates the pattern, indicating a potential upward move.
4. 20 EMA (Exponential Moving Average)
The price is trading above the 20 EMA, which shows short-term bullish momentum. Sustained trading above this level confirms that the stock is in an uptrend.
5.Suggested Trade Setup:
Entry: After a retest of the trendline around ₹400–405 or on a continuation above the breakout candle high of ₹419.40.
Stop Loss (SL): Below the recent swing low or the 20 EMA, around ₹385.
Target: First target: ₹450 (psychological level and prior resistance).
Second target: ₹475 (previous supply zone).
Educational Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult a professional advisor before making any trading decisions.
1. Trendline
A downward sloping trendline is drawn from previous swing highs, indicating a resistance zone. The recent price action shows that the stock has broken above this trendline with strong momentum, suggesting a potential trend reversal or breakout.
2. Volume
The chart highlights rising volumes as the price breaks out of the trendline. Increasing volume during a breakout adds strength to the move, confirming that buyers are stepping in.
3.Price Pattern
A Triple Double Bottom pattern is visible at the bottom, marked by three distinct touches at the same support level. A triple bottom is a bullish reversal pattern, and the breakout above the trendline validates the pattern, indicating a potential upward move.
4. 20 EMA (Exponential Moving Average)
The price is trading above the 20 EMA, which shows short-term bullish momentum. Sustained trading above this level confirms that the stock is in an uptrend.
5.Suggested Trade Setup:
Entry: After a retest of the trendline around ₹400–405 or on a continuation above the breakout candle high of ₹419.40.
Stop Loss (SL): Below the recent swing low or the 20 EMA, around ₹385.
Target: First target: ₹450 (psychological level and prior resistance).
Second target: ₹475 (previous supply zone).
Educational Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult a professional advisor before making any trading decisions.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.