POV: NAM_INDIA - Ascending Triangle Breakout
POV: NAM_INDIA - Ascending Triangle Breakout
1️⃣ Breakout:
On Dec 10, 2024, the stock broke out of an Ascending Triangle pattern with a strong Marubozu candle.
2️⃣ Volume:
The breakout was supported by extremely high volume, confirming strength.
3️⃣ Momentum & Trend:
Daily and weekly timeframes show momentum and trend in perfect sync.
4️⃣ SMA 200:
A steadily rising 200 SMA adds extra confidence for a long position.
5️⃣ Concerns:
High range expansion results in a wide stop-loss (SL).
RSI is in the overbought zone (common for such breakouts). A pullback entry is advisable instead of jumping in directly.
Disclaimer:
For educational purposes only, not financial advice.
#NiVYAMi
1️⃣ Breakout:
On Dec 10, 2024, the stock broke out of an Ascending Triangle pattern with a strong Marubozu candle.
2️⃣ Volume:
The breakout was supported by extremely high volume, confirming strength.
3️⃣ Momentum & Trend:
Daily and weekly timeframes show momentum and trend in perfect sync.
4️⃣ SMA 200:
A steadily rising 200 SMA adds extra confidence for a long position.
5️⃣ Concerns:
High range expansion results in a wide stop-loss (SL).
RSI is in the overbought zone (common for such breakouts). A pullback entry is advisable instead of jumping in directly.
Disclaimer:
For educational purposes only, not financial advice.
#NiVYAMi
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