“inverse head and shoulder” Pattern Breakout
• On the daily chart, the stock has formed an “inverse head and shoulder” indicating a short term trend reversal
• This breakout is accompanied with huge volumes indicating increased participation
• In addition, the stock has confirmed higher tops and bottoms
TVS Motor Company Limited Weekly Tech Picks 27 May,2022• The stock is well placed above its 20,
50 , 100 and 200 SMA which reconfirmed bullish trend
• The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.
• The above analysis indicate an upside of 765-790 levels.
• *Holding period is 3 to 4 weeks.
• This breakout is accompanied with huge volumes indicating increased participation
• In addition, the stock has confirmed higher tops and bottoms
TVS Motor Company Limited Weekly Tech Picks 27 May,2022• The stock is well placed above its 20,
50 , 100 and 200 SMA which reconfirmed bullish trend
• The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.
• The above analysis indicate an upside of 765-790 levels.
• *Holding period is 3 to 4 weeks.
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