This is more like looking at charts and trying to find out patterns
whom can this help
Hypothesis
Looking at charts, it seems there is a strong magnetic support/resistance at 40.5 price. It acted like resistance for months, acted like a consolidation zone, acted like a price rotation zone where weak buyers were taken off, After a breakout re-testing of this zone...and again in this pandemic, it came in to play as a strong support zone.
You name it- this price point have gone through all that we could think. So its an important price point for federal bank
Before the pandemic started - the Bank was in a nice slow bullish run forming HH and LH's. Pandemic stuck - it fell like others and now in an interesting zone
Here the price can consolidate for a while or breakout or break-down - Depending on other factors that no one knows. What we can safely infer is - if its breakout of this zone this will test the previous HL and if it breakdowns will test our magnetic price point of 40.5
at the end - this is a hypothesis, and in certain conditions becomes true and in certain conditions becomes false. So watch out for conditions
Happy Trading
MSK
whom can this help
- Investors - what should be there SL in Federal Bank - exit at 66 and re-enter at 41
- Technical Analyst - one more analysis - always good to see perspectives :) isn't it
- Traders - Not exactly - but they may want to set an Alert for Monthly closing below 66 or above 87 for major moves
Hypothesis
Looking at charts, it seems there is a strong magnetic support/resistance at 40.5 price. It acted like resistance for months, acted like a consolidation zone, acted like a price rotation zone where weak buyers were taken off, After a breakout re-testing of this zone...and again in this pandemic, it came in to play as a strong support zone.
You name it- this price point have gone through all that we could think. So its an important price point for federal bank
Before the pandemic started - the Bank was in a nice slow bullish run forming HH and LH's. Pandemic stuck - it fell like others and now in an interesting zone
Here the price can consolidate for a while or breakout or break-down - Depending on other factors that no one knows. What we can safely infer is - if its breakout of this zone this will test the previous HL and if it breakdowns will test our magnetic price point of 40.5
at the end - this is a hypothesis, and in certain conditions becomes true and in certain conditions becomes false. So watch out for conditions
Happy Trading
MSK
Nota
Given a breakout on the upside - so positional Traders can look for a target of 110Nota
Made a high of 107 .. lets see if 110 also is on cardsDagangan ditutup: sasaran tercapai
took some time - actually a lot of time but finally
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.