Affle - ascending triangle pattern
Affle is constantly making higher highs and higher lows. Price is forming an ascending triangle, which is form of a bullish set up.
Interpretation: Price moving high in a narrow range, increase in share price means that buyers are interested in buying a stock even at increasing price, which indicates a bullish anticipation in buyers.
Price is also showing 2 more bullish signs:
1. Price taking support from key moving average: 20 Day EMA
2. Key moving average cross over : 20 day Ema has crossed 50 day EMA from below, on 31st march.
Keep an eye on stock and add to your watch list. Any close above 1295 can lead to potential target of 1340, 1412, 1480 in order. Check your risk appetite and pick safe targets accordingly.
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Interpretation: Price moving high in a narrow range, increase in share price means that buyers are interested in buying a stock even at increasing price, which indicates a bullish anticipation in buyers.
Price is also showing 2 more bullish signs:
1. Price taking support from key moving average: 20 Day EMA
2. Key moving average cross over : 20 day Ema has crossed 50 day EMA from below, on 31st march.
Keep an eye on stock and add to your watch list. Any close above 1295 can lead to potential target of 1340, 1412, 1480 in order. Check your risk appetite and pick safe targets accordingly.
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Penafian
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