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It is forming a flag pattern along with the head and shoulder pattern formation. Patterns work better on higher time frames. Hence these consolidations and patterns indicate that a new trend can start.
Doing cycle analysis. It moves in a 20 month cycle. But cycle analysis works best when done on a group of stocks and on multiple timeframes. Hence it is just an indication and timing factor not a deciding factor. Therefore it is the time to study business and the sector fundamentally also.
Doing cycle analysis. It moves in a 20 month cycle. But cycle analysis works best when done on a group of stocks and on multiple timeframes. Hence it is just an indication and timing factor not a deciding factor. Therefore it is the time to study business and the sector fundamentally also.
Nota
Complete Breakdown.
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