Petronet Nearing a Breakout. Wedge & Ascending Traingle

2021년 1월 9일

Energy Sector looks ready to breakout, not performed since 2018

All logic on charts.

If you consider candles from dotted line to current line it is forming a Ascending Triangle.
If you consider candles from All time high levels it is a Wedge pattern.

So ascending triangle and Large body candle of weekly close indicate a upside breakout.

2021년 1월 9일

노트

You can even say that candle marked as 'unsuccessful attempt', was to kick out weak hands. As it had lower volumes

2021년 2월 19일

노트

Pattern still intact.

At CMP Low risk set up.