Valiant Organics - Double bottom and descending triangle
CMP - 411
TARGET – 1800
⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️
Description:
A descending triangle refers to a chart pattern used in technical analysis that is characterized by a descending upper trendline and a second, flatter horizontal trendline forming a support level.
Downtrend: The market in question must be in an existing downtrend before the descending triangle pattern appears.
Consolidation Phase: The descending triangle appears when the market is entering the consolidation phase.
Descending Upper Trendline: Building on the second point, a downward sloping trendline can be drawn by connecting the upper points and indicates that the sellers are gradually pulling prices down.
Horizontal Lower Trendline: The lower horizontal trendline primarily acts as a support, and prices often approach the level until the breakout occurs.
TARGET – 1800
⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️
Description:
A descending triangle refers to a chart pattern used in technical analysis that is characterized by a descending upper trendline and a second, flatter horizontal trendline forming a support level.
Downtrend: The market in question must be in an existing downtrend before the descending triangle pattern appears.
Consolidation Phase: The descending triangle appears when the market is entering the consolidation phase.
Descending Upper Trendline: Building on the second point, a downward sloping trendline can be drawn by connecting the upper points and indicates that the sellers are gradually pulling prices down.
Horizontal Lower Trendline: The lower horizontal trendline primarily acts as a support, and prices often approach the level until the breakout occurs.
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.