POV: NAM_INDIA - Ascending Triangle Breakout

7일 전

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.

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