Ascending Triangle Pattern in ABB India

ABB

This stock is the perfect example of the ascending triangle pattern. The upper trendline is a horizontal trendline and the lower trendline joins the higher lows. Then the stock breaks from the triangle with volume. The MACD was also bullish and RSI was above 50 showing good momentum. This Pattern is usually considered a bullish pattern. The stock then rallied after the breakout.\

Disclaimer : This is my own analysis and view. This is for educational purposes. This is not a recommendation, call or a tip.