praveen.bhatiya

Inverted Head and Shoulder Reversal

Long
NSE:SUNPHARMA   SUN PHARMACEUTICAL
The stock was in downtrend and making lower low since last 2 years. It is showing sign of reversal now and formed classical inverted Head and Shoulder pattern. It has broken the neckline significantly and also short term trend line. One can conclude that that it wants to go up now. Recent budget reaction provides an opportunity to accumulate the stock for investment. Short term traders can also trade the pattern on seeing some strength. RSI came out of oversold zone and currently at 50 is also confirming the decision.

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.