ABB on watchlist| Possible Ascending triangle breakoutABB is bullish on multiple timeframes and is consolidating in an ascending triangle near ATH. Sustained close above 3,450 with decent volumes make it ideal for a breakout. If not the stock can retest the lower trendline of the triangle.
Note: This is not a buy/sell recommendation. Just learning and sharing my views for educational purposes and open to feedback from the community. Thanks!
ABB trade ideas
ABB_DailyLooks good.........................
ABB is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget and Switzerland's Brown, Boveri & Cie merged to create ASEA Brown Boveri, later simplified to the initials ABB .
educational purpose only.
ABB_DailyLooks good.........................
ABB is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget and Switzerland's Brown, Boveri & Cie merged to create ASEA Brown Boveri, later simplified to the initials ABB.
educational purpose only.
ABB is forming triangle patternNSE:ABB large cap stock is facing rejection at its resistance 5 times in 2 months.
A strong breakout can result in good up move along with bull market.
In case of reversal, clear triangle can be formed.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
ABBNOTE: these are virtual trade, not taking live trade. (high risk, using 5.34 x leverage in future trade) if it went wrong and spot went up 18% when capital would wiped out. stay safe. i am testing whether my analysis are right or wrong. if u have any suggestion comment below
reasons:
1) stock breaks it trend
2) break inside day candle (check on learnapp you tube channel)
3) loss in momentum rsi falls below 50
today overall market fall maybe that can be the reason for stock fall. "low volume". these are some concerns