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Doublebottombreakout

NIFTY IT - Recovery started with Double Bottom Breakout Confirm Key highlights: 💡⚡ On basis of Weekly Time Frame 📊 Currently NIFTYIT has given Double Bottom Breakout with confirmation. 📊 Keep an eye on IT sector's scripts. 📊 Example : LTTS , COFORGE , TECHM 1st Target - 32816 2nd Target - 34381 Support - 30559 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:CNXITLong
by radha_23
2
$VRTX showing multiple signs of continuation!Notes: * Very strong up trend on all time frames * Great earnings track record since 2017 * Breaking out of a ~4 month base with higher than average volume * Printed a pocket pivot * And offering an early entry relative to its 50 day line * Breaking above a historical resistance of $290.48 with volume once again (Third time's the lucky charm? ;)) * Formed a relatively flat handle to the double bottom * Offering a low risk entry Technicals: Sector: Healthcare - Biotechnology Relative Strength vs. Sector: 1.32 Relative Strength vs. SP500: 1.16 U/D Ratio: 1.97 Base Depth: 24.6% Distance from breakout buy point: 0.03% Volume 8.7% above its 15 day avg. Trade Idea: * You can enter now as it's just breaking out of its double bottom base with higher than average volume and it printed a pocket pivot * If you're looking for a better entry you can look for one around the 290.5 area as that should hold as support * One thing to keep in mind is that there are two more historical areas of resistance that will come in the way before we hit the target * Look for confirming price action around those levels before adding to the position * Or, if we see lots of rejection around those levels, consider exiting the position earlier * This stock usually has local tops when the price closes around 11.93% above its 50 EMA * Consider selling into strength if the price closes 11.73% to 12.13% (or higher) above its 50 EMA * The last closing price is 6.9% away from its 50 EMA
NASDAQ:VRTXLong
by HaseebKhan_90
SYNH Broke out of after months of consolidationIt's been months since SYNH has been consolidating and it finally broke out today. Tonnes of buying pressure came in early June that proved $80.30 as a solid support level. Since then SYNH has been heading up. Looking at the weekly or even monthly charts you can see that the company's been doing really well with the stock showing a clear up trend. With the stock making a new all-time-high and the company expected to well in the coming year, it's clear that the stock should continue to move higher. Technicals * Stock made a double bottom * Confirmed the double bottom as it broke and closed above $89.95 * Measured objective for this pattern would be around $99.61 Final thoughts * Breakout wasn't with a lot of volume so be on a look out for a retest of the broken level * Look for buying opportunities around the breakout point between $88.90 and $90
SLong
by HaseebKhan_90
Double Bottom a bullish reversal patternDouble Bottom Pattern Tutorial - Double Bottom is a bullish reversal pattern usually found at the end of a downtrend. Double Bottom pattern can be easily identified when price reaches a equal low two consecutive times unable to push price to a new lower low to continue the downtrend then the price bounces sharply from the equal low area and then breaks the neckline. The entry point of this trade pattern will be confirmed by a closing of price above the neckline. We can take help of RSI to see the momentum and the strength of the price movement. Stay Tuned, 👍;
Education
by tapasdhanadana
1