GRAPHITE INDIA has formed a FLAG AND POLE pattern on the weekly charts and has given a breakout with good volume.
The "flag and pole pattern" in technical analysis is a chart pattern that signals a potential continuation of an existing trend. It's characterized by a sharp, initial price movement (the "pole") followed by a period of consolidation (the "flag") within a defined range. A breakout from this range, in the same direction as the initial pole, suggests a likely continuation of the original trend
The target of this pattern signals an upside potential of 25% from the current price level in medium term.
Stock is trading above its 11 & 22 day EMA. RSI is at 68, signalling positive momentum.
CMP- Rs. 553
Target Price- Rs 691 ( 25% upside)
SL - 525
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
The "flag and pole pattern" in technical analysis is a chart pattern that signals a potential continuation of an existing trend. It's characterized by a sharp, initial price movement (the "pole") followed by a period of consolidation (the "flag") within a defined range. A breakout from this range, in the same direction as the initial pole, suggests a likely continuation of the original trend
The target of this pattern signals an upside potential of 25% from the current price level in medium term.
Stock is trading above its 11 & 22 day EMA. RSI is at 68, signalling positive momentum.
CMP- Rs. 553
Target Price- Rs 691 ( 25% upside)
SL - 525
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
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.