ZENSARTECH Inverted H&S Breakout and Retest Complete
Aggiornato
1. Made an All Time High in 2018, stock fell from there
2. Formed an Inverted Head and Shoulder (IHNS) pattern over a period of 2 years on a Weekly chart
3. Breakout from pattern with high volumes
4. Pattern's Neckline at 257 has been retested over a couple of weeks with decreased volumes
5. Stock rising again after restesting breakout level
6. Huge delivery of stocks with respect to traded quantity - 77% according to NSE website meaning long term prospects by institutions
Buy : 300 - 310
Strict SL : 275
Wide SL : 255 (Below IHNS Neckline)
Immediate Target: 350 (All Time High)
Final Target: 440 (Equal to the depth of INHS Pattern)
Time Period: Mid Term to Long Term
2. Formed an Inverted Head and Shoulder (IHNS) pattern over a period of 2 years on a Weekly chart
3. Breakout from pattern with high volumes
4. Pattern's Neckline at 257 has been retested over a couple of weeks with decreased volumes
5. Stock rising again after restesting breakout level
6. Huge delivery of stocks with respect to traded quantity - 77% according to NSE website meaning long term prospects by institutions
Buy : 300 - 310
Strict SL : 275
Wide SL : 255 (Below IHNS Neckline)
Immediate Target: 350 (All Time High)
Final Target: 440 (Equal to the depth of INHS Pattern)
Time Period: Mid Term to Long Term
Trade attivo
Immediate target (Short Term) almost reached. One might book profits in half or full as per their risk reward at 348-350.Or may continue trailing stop loss to lock in the profits.
IT stocks moving up, so one may expect higher levels for mid term.
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