POV: NAM_INDIA - Ascending Triangle Breakout
POV: NAM_INDIA - Ascending Triangle Breakout
1️⃣ Breakout:
On Dec 10, 2024, the stock broke out of an Ascending Triangle pattern with a strong Marubozu candle.
2️⃣ Volume:
The breakout was supported by extremely high volume, confirming strength.
3️⃣ Momentum & Trend:
Daily and weekly timeframes show momentum and trend in perfect sync.
4️⃣ SMA 200:
A steadily rising 200 SMA adds extra confidence for a long position.
5️⃣ Concerns:
High range expansion results in a wide stop-loss (SL).
RSI is in the overbought zone (common for such breakouts). A pullback entry is advisable instead of jumping in directly.
Disclaimer:
For educational purposes only, not financial advice.
#NiVYAMi
1️⃣ Breakout:
On Dec 10, 2024, the stock broke out of an Ascending Triangle pattern with a strong Marubozu candle.
2️⃣ Volume:
The breakout was supported by extremely high volume, confirming strength.
3️⃣ Momentum & Trend:
Daily and weekly timeframes show momentum and trend in perfect sync.
4️⃣ SMA 200:
A steadily rising 200 SMA adds extra confidence for a long position.
5️⃣ Concerns:
High range expansion results in a wide stop-loss (SL).
RSI is in the overbought zone (common for such breakouts). A pullback entry is advisable instead of jumping in directly.
Disclaimer:
For educational purposes only, not financial advice.
#NiVYAMi
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.