Lincoln Pharmaceuticals Ltd - looks good

5 thg 4, 2023

This stock has formed a pattern called Continuation Diamond ( Bullish ), providing a target price for the long-term in the range of 420.00 to 499.00.

What is continuation diamond pattern?
A continuation diamond pattern is a bullish technical analysis pattern that typically occurs in the middle of an uptrend. This pattern is formed when the price of an asset creates a diamond shape as it consolidates before resuming its upward trend.

How To identify a continuation diamond pattern, traders look for the following characteristics:

• The price of the asset is in an uptrend.
  
• The price forms a diamond shape with decreasing highs and increasing lows.
  
• The diamond pattern is formed within a relatively tight trading range.
  
• The trading volume decreases as the pattern develops.
  
• Once traders identify a continuation diamond pattern, they may look to enter a long position as the price
• breaks out of the pattern and resumes its uptrend.
  
• Traders may also set stop-loss orders below the pattern to limit their risk.
  

It's important to note that not all continuation diamond patterns lead to bullish breakouts. Traders should always use other technical indicators and fundamental analysis to confirm the potential trend reversal.


Note for everyone who came across this study:
This chart is only for educational purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.

30 thg 5, 2023

Đóng lệnh: đạt mục tiêu

24th May Target was reached, No further analysis.