"VOLTAS LTD (NSE: VOLTAS) is showing a potential bearish pattern on the 30-minute timeframe. After a significant downtrend, the stock formed a rising wedge pattern, which is typically considered a bearish continuation pattern.
Key observations:
A sharp decline from around 1910 to 1840 levels.
Formation of a rising wedge pattern, characterized by higher lows and higher highs, but with converging trendlines.
The stock price has just broken below the lower trendline of the wedge, suggesting a potential continuation of the downtrend.
The breakdown from the rising wedge suggests a possible bearish move. The next significant support level appears to be around 1836.05, which is marked as the 'Low' on the chart.
Key observations:
A sharp decline from around 1910 to 1840 levels.
Formation of a rising wedge pattern, characterized by higher lows and higher highs, but with converging trendlines.
The stock price has just broken below the lower trendline of the wedge, suggesting a potential continuation of the downtrend.
The breakdown from the rising wedge suggests a possible bearish move. The next significant support level appears to be around 1836.05, which is marked as the 'Low' on the chart.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.