breakout failure of STERTOOLS-EQ
STERTOOLS-EQ is fundamentally sound company but the price is giving an indication of bear phase for the company.
the price has successfully given a breakdown with H&S pattern. the pattern is clearly visible on daily time frame. i couldnt show it here because i have choosen weekly time frame.
price has successfully given a breakout at ~245 - 275 levels in 2022 and has not yet retested the breakout. in this bear phase STERTOOLS-EQ will most likely test those levels.
in the down fall towards ~250 levels there will be fib 0.61 level where the price will bounce and will appear to sustain but most likely it will be used as a sell on rise opportunity.
as always trade as per your risk capacity.
the price has successfully given a breakdown with H&S pattern. the pattern is clearly visible on daily time frame. i couldnt show it here because i have choosen weekly time frame.
price has successfully given a breakout at ~245 - 275 levels in 2022 and has not yet retested the breakout. in this bear phase STERTOOLS-EQ will most likely test those levels.
in the down fall towards ~250 levels there will be fib 0.61 level where the price will bounce and will appear to sustain but most likely it will be used as a sell on rise opportunity.
as always trade as per your risk capacity.
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