Hi All, This is my first technical analysis. Please bear with me if my understanding is incorrect.
I can see 2 patterns in this chart.
1) Possible cup and handle pattern from 10th March to 12th Apr. Top of the cup (94.93) has been tested multiple times and breakout on 13th April. Moved upward and retesting the now support line (94.93), If this moves upward from this support, possible target is depth of the cup.
2) Swing high (SH) made lower. First SH on 9th March and second on 1st April. Trendline drawn. Breakout on 9th Apr. Bullish. Target for this is distance between trendline and lowest point (close to 86.0335).
In both these cases, target comes close to 103.5 to 104.5.
This is purely for my educational purpose. Please don't risk your investments based on this.
I can see 2 patterns in this chart.
1) Possible cup and handle pattern from 10th March to 12th Apr. Top of the cup (94.93) has been tested multiple times and breakout on 13th April. Moved upward and retesting the now support line (94.93), If this moves upward from this support, possible target is depth of the cup.
2) Swing high (SH) made lower. First SH on 9th March and second on 1st April. Trendline drawn. Breakout on 9th Apr. Bullish. Target for this is distance between trendline and lowest point (close to 86.0335).
In both these cases, target comes close to 103.5 to 104.5.
This is purely for my educational purpose. Please don't risk your investments based on this.