Let's understand multi timeframe analysis for TECHM. TECHM is closely following CNXIT.
Weekly TF -
CNXIT did a major rally after sudden fall in march 2020, made a strong base in early 2021 and then did another rally in second half of 2021. Price has been falling since January 2022 and now it has reached at a monthly/weekly/daily demand zone. Weekly RSI is also below 30 which indicates that it's heavily oversold.
TECHM chart looks very identical to CNXIT.
Daily TF -
There's a Bullish Hammer candlestick formed with a huge volume which could be a sign of trend reversal.
Price has formed bullish Bat/Alternative Bat harmonic pattern and is approaching Price Reversal Zone(D point - 925). Price could make 50% reversal from PRZ.
15 minutes/5 minutes TF -
Bullish RSI divergence has been seen on 15 minutes TF. Trendline resistance break and sustenance above it would confirm the bullish trend.
We have multiple confluences for TECHM trend reversal. Let's see how it plays out. Happy trading!
Weekly TF -
CNXIT did a major rally after sudden fall in march 2020, made a strong base in early 2021 and then did another rally in second half of 2021. Price has been falling since January 2022 and now it has reached at a monthly/weekly/daily demand zone. Weekly RSI is also below 30 which indicates that it's heavily oversold.
TECHM chart looks very identical to CNXIT.
Daily TF -
There's a Bullish Hammer candlestick formed with a huge volume which could be a sign of trend reversal.
Price has formed bullish Bat/Alternative Bat harmonic pattern and is approaching Price Reversal Zone(D point - 925). Price could make 50% reversal from PRZ.
15 minutes/5 minutes TF -
Bullish RSI divergence has been seen on 15 minutes TF. Trendline resistance break and sustenance above it would confirm the bullish trend.
We have multiple confluences for TECHM trend reversal. Let's see how it plays out. Happy trading!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.