The above chart pattern is known as Symmetrical trianlge or just Triangle pattern, where the stock makes lower highs and higher lows over a period of time. And, one can expect good movement in stock after either breakout or breakdown occurs.
Here, Ipca Lab have given breakout and also made new 52 week high today, after Oct 2020. Also, ascending and descending trianlge patterns are the other types, which come under triangle patterns.
Where Ascending triangle is considered as bullish formation and Descending triangle pattern is considered as bearish formation, technically. Also, consider the volume.
So one should look for such beautiful, powerful patterns and ride the trend, on either breakout or breakdown.
Here, Ipca Lab have given breakout and also made new 52 week high today, after Oct 2020. Also, ascending and descending trianlge patterns are the other types, which come under triangle patterns.
Where Ascending triangle is considered as bullish formation and Descending triangle pattern is considered as bearish formation, technically. Also, consider the volume.
So one should look for such beautiful, powerful patterns and ride the trend, on either breakout or breakdown.