This stock forming a **rounded bottom pattern** with a **bullish breakout**, which can be favorable for a long trade.
---*Technical Analysis**
1. **Rounded Bottom Formation (Cup Shape)**
* The price action shows a smooth transition from a downtrend to an uptrend.
* This is a classic **reversal pattern** signaling a shift from bearish to bullish sentiment.
2. **Breakout Confirmation**
* The last few candles show strong bullish momentum breaking above the recent resistance level (horizontal line).
* This breakout is accompanied by a significant **spike in volume**, validating the move.
3. **Moving Average (Blue Line)**
* Price is consistently trading **above the moving average**, which is sloping upward – a bullish sign.
this is a **20-day moving average**, often used to gauge short- to mid-term trends.
4. **Volume Analysis**
* **Accumulation** is evident in the rising green volume bars leading up to the breakout.
* Strong breakout candle with the **highest volume** in the visible chart — this adds conviction
### 📈 **Trade Setup (Long Bias)**
* **Entry**: On close above the breakout candle or slight pullback to the breakout level (prior resistance acting as support) 400-410
* **Stop Loss**: Just below the breakout level or below the moving average
### ⚠️ Risk
* Avoid chasing the price after a large breakout (above 410) candle unless a retest occurs.
ENTRY 400-410
SL FOR POSITINAL 360
FIRST TARGET -520
RISK REWARD -1:2.2
---*Technical Analysis**
1. **Rounded Bottom Formation (Cup Shape)**
* The price action shows a smooth transition from a downtrend to an uptrend.
* This is a classic **reversal pattern** signaling a shift from bearish to bullish sentiment.
2. **Breakout Confirmation**
* The last few candles show strong bullish momentum breaking above the recent resistance level (horizontal line).
* This breakout is accompanied by a significant **spike in volume**, validating the move.
3. **Moving Average (Blue Line)**
* Price is consistently trading **above the moving average**, which is sloping upward – a bullish sign.
this is a **20-day moving average**, often used to gauge short- to mid-term trends.
4. **Volume Analysis**
* **Accumulation** is evident in the rising green volume bars leading up to the breakout.
* Strong breakout candle with the **highest volume** in the visible chart — this adds conviction
### 📈 **Trade Setup (Long Bias)**
* **Entry**: On close above the breakout candle or slight pullback to the breakout level (prior resistance acting as support) 400-410
* **Stop Loss**: Just below the breakout level or below the moving average
### ⚠️ Risk
* Avoid chasing the price after a large breakout (above 410) candle unless a retest occurs.
ENTRY 400-410
SL FOR POSITINAL 360
FIRST TARGET -520
RISK REWARD -1:2.2
Note
Gud move from our buying priceTrade active
gud move from our buying price. Also first target achieved.Trade closed: target reached
Boom boom boom this is the power of cup pattern.
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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.
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.