The above weekly chart is of Infosys Ltd.
Here the stock price moves beautifully just in between the parallel channel, making higher highs and higher lows.
If one successfully manages to find the chart as above, he can simply buy at the lower channel trendline and sell at the upper channel trendline.
Yes, everything looks wow and amazing after the chart formation. As I do not have access to post chart image in my post here, I have tried my best to show the chart formation from Mar'20 till May'21, which you can see on the main chart, where the stock price moves in between the upper and lower channel trendline.
After identifying the channel pattern, if one had taken the position even on May'21, where the price touched and later bounced from lower trendline, would have made a good 28% in 3 months (Aug'21), where price touched the upper trendline.
Hope the above chart was useful with the information provided.
Happy Investing !
Here the stock price moves beautifully just in between the parallel channel, making higher highs and higher lows.
If one successfully manages to find the chart as above, he can simply buy at the lower channel trendline and sell at the upper channel trendline.
Yes, everything looks wow and amazing after the chart formation. As I do not have access to post chart image in my post here, I have tried my best to show the chart formation from Mar'20 till May'21, which you can see on the main chart, where the stock price moves in between the upper and lower channel trendline.
After identifying the channel pattern, if one had taken the position even on May'21, where the price touched and later bounced from lower trendline, would have made a good 28% in 3 months (Aug'21), where price touched the upper trendline.
Hope the above chart was useful with the information provided.
Happy Investing !