PIDILITE forming a perfect symmetrical triangle on the daily TF.

2020년 5월 31일

Cab be a good long opportunity considering the prior uptrend, contracting volume during the formation and the price respecting the symmetrical triangle boundaries religiously. One of the apprehensions with this chart is that the price seems to have gone too deep into the apex of the triangle, which negates the view.
Further, If it so happens, that the breakout is towards the lower boundary of the triangle, this can be a short opportunity then, and can result in the reversal of the prior uptrend of the stock.