Breaking out - Cup & Handle | Inverse H&S
Chart pattern:-
Infy took 8 months to complete the Cup and Handle Formation. If you observe closely, it has formed intermediate Head and Shoulders especially in the Handle portion.
Positive indications :-
- Closed above the resistance - 760 levels.
- RSI and MACD showing good strength.
- Long buildups observed in this counter regularly
Conclusion:-
An increase in volumes is needed for the breakout. If sustains above the current level it can give a good rally up to the 900 levels in coming months.
However, tread with caution as price is sliding on to the upper end of the bollinger band which may cause a minor dip before the rally. 730-740 could be the lower levels to watch out for.
This is a just beginner’s analysis. Please feel free to share your thoughts regarding this. Thanks for reading!
Infy took 8 months to complete the Cup and Handle Formation. If you observe closely, it has formed intermediate Head and Shoulders especially in the Handle portion.
Positive indications :-
- Closed above the resistance - 760 levels.
- RSI and MACD showing good strength.
- Long buildups observed in this counter regularly
Conclusion:-
An increase in volumes is needed for the breakout. If sustains above the current level it can give a good rally up to the 900 levels in coming months.
However, tread with caution as price is sliding on to the upper end of the bollinger band which may cause a minor dip before the rally. 730-740 could be the lower levels to watch out for.
This is a just beginner’s analysis. Please feel free to share your thoughts regarding this. Thanks for reading!
Ghi chú
As suggested, the price did fall to 740 after which there was a bullish candle on Friday. Seems like a good time to enter now.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.