Bearish price channel breakout of Mahindra &Mahindra (M_M)

30 thg 5, 2021

This breakout is based on a one day time frame basis. This stock is on uptrend making higher highs and higher lows, its last high was on 8th February 2021 after which it started forming bearish price channel and retested its previous deep retracement zone forming double bottom meanwhile 200 MA was also in the same retracement zone. Then came the breakout of the price channel and current price is above 20,50,200 MA.