Positional Long Trade on KABRA EXTRUSIONS
PRICE PATTERN ANALYSIS-
1) Stock broke out today from a SYMMETRICAL TRIANGLE PATTERN
2) Breakout was approximately at 2/3rd of the length of the triangle, indicating strength of the pattern
3) Pattern was formed over a period of 3 months, making Lower Highs and Higher Lows, which made a Symmetrical Triangle Pattern.
VOLUME ANALYSIS-
1) FALLING and LOW volume across the formation of the triangle.
2) BREAKOUT was accompanied by a HUGE SURGE in volume, confirming the pattern breakout validity.
TARGETS-
1) The targets for such a formation is the Difference between the 1ST HIGH and the 1ST LOW ( 215-157 ), which is equal to 58. This amount we add to the BREAKOUT POINT ( 205 ) to arrive at our TARGET ( 205+58 ), which equals 263.
1) Stock broke out today from a SYMMETRICAL TRIANGLE PATTERN
2) Breakout was approximately at 2/3rd of the length of the triangle, indicating strength of the pattern
3) Pattern was formed over a period of 3 months, making Lower Highs and Higher Lows, which made a Symmetrical Triangle Pattern.
VOLUME ANALYSIS-
1) FALLING and LOW volume across the formation of the triangle.
2) BREAKOUT was accompanied by a HUGE SURGE in volume, confirming the pattern breakout validity.
TARGETS-
1) The targets for such a formation is the Difference between the 1ST HIGH and the 1ST LOW ( 215-157 ), which is equal to 58. This amount we add to the BREAKOUT POINT ( 205 ) to arrive at our TARGET ( 205+58 ), which equals 263.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.