Naikari has been on an upward trend since March 2023, following a Fibonacci trend-based retracement over a longer duration.
Fibonacci trend-based duration: Start - March 2020, End - March 2023
Stock Behaviour:
- The stock is following Fibonacci trend-based extension levels.
- It is currently trading at Level 1 of the trend-based Fibonacci extension, which acts as resistance at 9,100.
- The stock has formed a rounding bottom technical pattern, which started in October 2021 and completed in September 2024.
- The total height of the base to the bottom is 4,100 points.
Expectations:
- The stock is expected to face resistance at Fibonacci Level 1 @ 9,100.
- It may retrace to retest the 20 EMA on the daily timeframe at 8,400.
- Lower levels to monitor:
L1 - 8,400
L2 - 7,850 (Fibonacci Level 0.7)
- Once the resistance level at 9,100 is broken with volume, the stock is expected to test:
Target L1 - 11,600 (Rounding bottom pattern target)
Target L2 - 12,700 (Fibonacci Level 1.618)
Fibonacci trend-based duration: Start - March 2020, End - March 2023
Stock Behaviour:
- The stock is following Fibonacci trend-based extension levels.
- It is currently trading at Level 1 of the trend-based Fibonacci extension, which acts as resistance at 9,100.
- The stock has formed a rounding bottom technical pattern, which started in October 2021 and completed in September 2024.
- The total height of the base to the bottom is 4,100 points.
Expectations:
- The stock is expected to face resistance at Fibonacci Level 1 @ 9,100.
- It may retrace to retest the 20 EMA on the daily timeframe at 8,400.
- Lower levels to monitor:
L1 - 8,400
L2 - 7,850 (Fibonacci Level 0.7)
- Once the resistance level at 9,100 is broken with volume, the stock is expected to test:
Target L1 - 11,600 (Rounding bottom pattern target)
Target L2 - 12,700 (Fibonacci Level 1.618)
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.