BHEL Trend Reversal with Double bottom at long term Support
All observations on chart.
Stock is in bear market for many years. It formed a double bottom pattern, gave breakout with volumes & now there is a strong pullback.
Double bottom is trend reversal pattern preceded by down move. After pattern breakout trend reverses to up-move. Location of pattern is important, such patterns workout superbly when such pattern is formed at long-term supports or a strong support.
In Case of
BHEL Double bottom pattern is formed at multi year supports check below.
Stock is in bear market for many years. It formed a double bottom pattern, gave breakout with volumes & now there is a strong pullback.
Double bottom is trend reversal pattern preceded by down move. After pattern breakout trend reverses to up-move. Location of pattern is important, such patterns workout superbly when such pattern is formed at long-term supports or a strong support.
In Case of
BHEL Double bottom pattern is formed at multi year supports check below.Dagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.