TATA ELXSI Symmetrical Triangle Breakout
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TATA ELXSI Symmetrical Triangle Breakout
Target- 3350/3400
SL- 2755
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
It is also Forming Bullish Pennant on Daily Chart.
Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis.
Target- 3350/3400
SL- 2755
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
It is also Forming Bullish Pennant on Daily Chart.
Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis.
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