It had to happen – a price breakout down or a price breakout to the upside.
Let’s take a quick look at the intermediate-term price triangle that formed in Suzlon.
Keeping it simple, you can view it as an descending triangle or a price compression pattern. The implication is that price CANNOT remain trapped between the trendlines forever, as they are clearly converging.
Let’s take a quick look at the intermediate-term price triangle that formed in Suzlon.
Keeping it simple, you can view it as an descending triangle or a price compression pattern. The implication is that price CANNOT remain trapped between the trendlines forever, as they are clearly converging.
There is goodd possibilty of testing the lows @ Rs. 40 . I think that is a very good support at this moment. Lets keep an aye on this..
Happy Investing..
Bhupesh
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