MOTHERSON -Symmetrical Triangle -Breakout-Daily
Motherson chart formed symmetrical triangle pattern. In technical analysis, this pattern is characterized by two converging trendlines, with the price making lower highs and higher lows over time, ultimately forming a triangle shape. This formation often indicates price consolidation before a potential breakout.
The upper trendline connects the highs, while the lower trendline connects the higher lows.
The breakout appears to have occurred as the price moved above the upper trendline, which is typically seen as a bullish signal, suggesting the potential for a further upward move toward the target of ₹246.01, as indicated on the chart.
Additionally, the volume increase during the breakout confirms the strength of this move, which is an essential validation for the symmetrical triangle breakout pattern.
Support at 195 which is breakout candle low.
Motherson chart formed symmetrical triangle pattern. In technical analysis, this pattern is characterized by two converging trendlines, with the price making lower highs and higher lows over time, ultimately forming a triangle shape. This formation often indicates price consolidation before a potential breakout.
The upper trendline connects the highs, while the lower trendline connects the higher lows.
The breakout appears to have occurred as the price moved above the upper trendline, which is typically seen as a bullish signal, suggesting the potential for a further upward move toward the target of ₹246.01, as indicated on the chart.
Additionally, the volume increase during the breakout confirms the strength of this move, which is an essential validation for the symmetrical triangle breakout pattern.
Support at 195 which is breakout candle low.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.