I have identified a potential inverted head and shoulders pattern developing in Dal. Pattern is confirmed when price closes above the neckline. Target can easily hit 52, but a more conservative target would be just below the high in case of double top formations.
Why I like this trade:
1. Dal, along with the rest of airlines have reported strong earnings.
2. As of yesterday, Oil has put in a topping signal (for now)
3. Dal is within 1/3 of its' high of 51 making this patterns breakout even stronger.
Have a chart that you would like a second opinion on? Comment below and I'll take a look!
Why I like this trade:
1. Dal, along with the rest of airlines have reported strong earnings.
2. As of yesterday, Oil has put in a topping signal (for now)
3. Dal is within 1/3 of its' high of 51 making this patterns breakout even stronger.
Have a chart that you would like a second opinion on? Comment below and I'll take a look!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.