HAL- COMPLEX INVERSE HEAD AND SHOULDER PATTERN BREAKOUT
HAL has formed a complex Inverse Head & Shoulder Pattern on the Daily charts and has given a breakout with good volumes.
A "complex inverse head and shoulders" pattern is a variation of the inverse head and shoulders pattern, which indicates a potential bullish reversal after a downtrend. Unlike the standard inverse head and shoulders, complex patterns include multiple left or right shoulders or heads, making them more intricate. These patterns still signal a potential trend reversal, but the added complexity means the trend reversal is taking longer to fully develop.
Given the backdrop of INDO-PAK tensions there is a sectoral tailwind in all the defence stocks. This bullish momentum is likely to continue . The target price of this pattern indicates an upside potential of 30%.
The momentum indicators like RSI also indicate bullish momentum
CMP- 4725
TARGET - 6150 (30%)
SL - 4460
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
A "complex inverse head and shoulders" pattern is a variation of the inverse head and shoulders pattern, which indicates a potential bullish reversal after a downtrend. Unlike the standard inverse head and shoulders, complex patterns include multiple left or right shoulders or heads, making them more intricate. These patterns still signal a potential trend reversal, but the added complexity means the trend reversal is taking longer to fully develop.
Given the backdrop of INDO-PAK tensions there is a sectoral tailwind in all the defence stocks. This bullish momentum is likely to continue . The target price of this pattern indicates an upside potential of 30%.
The momentum indicators like RSI also indicate bullish momentum
CMP- 4725
TARGET - 6150 (30%)
SL - 4460
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
Trade ist aktiv
Magic of the patterns, performing as expected. Keep Rocking!!!
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.