Whirlpool - Long term SupportWhirlpool has good support levels around 1350-1450.
These are the levels, where this stock consolidated for many months, followed by a good move on the upside.
Now, the stock approaching the same levels again, and it could take support here.
Hence keep an eye on the price action near these levels, for spotting any reversal formation in the stock
WHIRLPOOL trade ideas
Whirlpool - at Solid SupportThere is the formation of an inverted head and shoulder pattern on the whirlpool chart and the interesting thing to notice here is that this pattern has formed on important daily chart support.
Hence sustaining 1830-1820 levels, the stock could see good upside in the near term.
WHIRLPOOLNSE:WHIRLPOOL
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WHIRLPOOL : Will break resistance?WHIRLPOOL
On daily time frame, its trading near resistance zone..
in smaller time freme given negative candle. if it sustain above Resistance looking bullish.
it can go down with unable to sustain Support
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Whirlpool - Bounced from SupportWhirlpool closed in positive last month forming a Bullish engulfing candle and managed to close above august month highs( hammer candle) another positive sign.
The structure of the stock is maintained as HH and HL
Volume was good both on the hammer as well on Bullish Engulfing Candle.
Now We have a support zone of 2130-2080 on the monthly chart. if the stock sustains the same, the stock might move towards its previous highs. ie. 2600- 2700 levels in the coming months.
Current levels: 2294
Type of Trade: Positional, Support trade
Whirlpool Short Term Reversal The stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near swing high.
WHIRLPOOL 4HRConfluence of Daily Bullish shark + 4HR Bat
VERTICAL DOTTED LINE is Ultra high volume down bar Higher volume-Professionals are buying into the public selling
Narrowing spreads candle & RSI TURNING UP
SET UP BECOMES VALID ONLY when RSI is over 30 & Price on breaking of ULTRA HIGH VOLUME Candle HIGH with NO SUPPLY i.e place for BUY
Potential Buy
WHIRLPOOL Daily Bullish Shark
VERTICAL DOTTED LINE is Ultra high volume down bar Higher volume-Professionals are buying into the public selling
Withiin 3-5 price bars PATTERN need to be get confirmed from a BULLISH CANDLE & Price on breaking of ULTRA HIGH VOLUME Candle HIGH with NO SUPPLY i.e place for BUY with RSI Above 30
POTENTIAL BUY