The stock is exhibiting a potential Head and Shoulders (H&S) breakout after a significant rally from 130 to 800.
However, there is a risk of a false breakout for distribution purposes, so it's important to proceed with caution.
small supply can be seen at 880 levels.
A strong breakout would be more reliable if supported by good trading volumes.
Additionally, a stop loss (SL) can be set at the low of the shoulder, with a strong daily candle close below 710 indicating a possible reversal.
Always remember to do your own research before making any investment decisions.
However, there is a risk of a false breakout for distribution purposes, so it's important to proceed with caution.
small supply can be seen at 880 levels.
A strong breakout would be more reliable if supported by good trading volumes.
Additionally, a stop loss (SL) can be set at the low of the shoulder, with a strong daily candle close below 710 indicating a possible reversal.
Always remember to do your own research before making any investment decisions.
Note
didn't trigger yetFake out
Order cancelled
didn't triggered as per plan
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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.