WALLING WEDGE BREAKOUT (EXIDE)
A falling wedge is a bullish chart pattern used in technical analysis. It is characterized by two converging trend lines that slope downwards, forming a cone shape. The pattern indicates that the price of a security is likely to reverse and move higher after a period of decline. Here are the key features:
Converging Trend Lines: The highs and lows of the price action converge, creating a narrowing wedge.
Volume Decline: Typically, volume decreases as the pattern forms.
Breakout: A bullish signal is confirmed when the price breaks above the upper trend line12.
This pattern suggests a decrease in downside momentum and the potential for a trend reversal3.
Converging Trend Lines: The highs and lows of the price action converge, creating a narrowing wedge.
Volume Decline: Typically, volume decreases as the pattern forms.
Breakout: A bullish signal is confirmed when the price breaks above the upper trend line12.
This pattern suggests a decrease in downside momentum and the potential for a trend reversal3.
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