CLOUD | Pennant PatternTrade Idea for CLOUD Stock
Setup : Bullish Pennant Pattern
Time Frame : 1 hour
Current Price : Below Rs. 150
Breakout Level : Above Rs. 150
Previous Top : Rs. 167
Pennant Projection : Around Rs. 250
Action : Consider a long position
Entry Point : Buy when CLOUD stock breaks above Rs. 150
Stop Loss : Set below the pennant pattern break, around Rs. 132
Target : Aim for a price projection around Rs. 250 based on the pennant pattern
Rationale : CLOUD stock is forming a bullish pennant pattern, suggesting potential for upward movement. A breakout above Rs. 150 could trigger a rally, with previous resistance at Rs. 167 and a projected target of Rs. 250. Manage risk with a stop loss below Rs. 132 to protect against downside.
Feel free to adjust the details based on your trading strategy and risk tolerance!
