Here’s a detailed analysis of PCBL on Daily Chart
1. Trendline
A downward sloping trendline is drawn from previous swing highs, indicating a resistance zone. The recent price action shows that the stock has broken above this trendline with strong momentum, suggesting a potential trend reversal or breakout.
2. Volume
The chart highlights rising volumes as the price breaks out of the trendline. Increasing volume during a breakout adds strength to the move, confirming that buyers are stepping in.
3.Price Pattern
A Triple Double Bottom pattern is visible at the bottom, marked by three distinct touches at the same support level. A triple bottom is a bullish reversal pattern, and the breakout above the trendline validates the pattern, indicating a potential upward move.
4. 20 EMA (Exponential Moving Average)
The price is trading above the 20 EMA, which shows short-term bullish momentum. Sustained trading above this level confirms that the stock is in an uptrend.
5.Suggested Trade Setup:
Entry: After a retest of the trendline around ₹400–405 or on a continuation above the breakout candle high of ₹419.40.
Stop Loss (SL): Below the recent swing low or the 20 EMA, around ₹385.
Target: First target: ₹450 (psychological level and prior resistance).
Second target: ₹475 (previous supply zone).
Educational Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult a professional advisor before making any trading decisions.
1. Trendline
A downward sloping trendline is drawn from previous swing highs, indicating a resistance zone. The recent price action shows that the stock has broken above this trendline with strong momentum, suggesting a potential trend reversal or breakout.
2. Volume
The chart highlights rising volumes as the price breaks out of the trendline. Increasing volume during a breakout adds strength to the move, confirming that buyers are stepping in.
3.Price Pattern
A Triple Double Bottom pattern is visible at the bottom, marked by three distinct touches at the same support level. A triple bottom is a bullish reversal pattern, and the breakout above the trendline validates the pattern, indicating a potential upward move.
4. 20 EMA (Exponential Moving Average)
The price is trading above the 20 EMA, which shows short-term bullish momentum. Sustained trading above this level confirms that the stock is in an uptrend.
5.Suggested Trade Setup:
Entry: After a retest of the trendline around ₹400–405 or on a continuation above the breakout candle high of ₹419.40.
Stop Loss (SL): Below the recent swing low or the 20 EMA, around ₹385.
Target: First target: ₹450 (psychological level and prior resistance).
Second target: ₹475 (previous supply zone).
Educational Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult a professional advisor before making any trading decisions.
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.