Scrip has been on the bullish trend with formation of ascending triangle
Ascending triangle
The ascending triangle is a bullish pattern, which gives an indication that the price of the security is headed higher upon completion. The pattern is formed by two trendlines: a flat trendline being a point of resistance and an ascending trendline acting as a price support.
The price of the security moves between these trendlines until it eventually breaks out to the upside. This pattern will typically be preceded by an upward trend
The most telling part of this pattern is the ascending support line, which gives an indication that sellers are starting to leave the security. After the sellers are knocked out of the market, the buyers can take the price past the resistance level and resume the upward trend.
Waiting to enter on confirmation after the scrip breakout and the bulls come in complete flow over the scrip :)
Rest in charts..
Fundamental - The company is debt-free, has been maintaining a healthy dividend payout of 38.09% e.t.c. Overall, A sound company to invest for long for atleast minimum 4-5 months as it has the potential to go beyond 52-week highs, this time
www.screener.in/comp...PTECHT/consolidated/
Ascending triangle
The ascending triangle is a bullish pattern, which gives an indication that the price of the security is headed higher upon completion. The pattern is formed by two trendlines: a flat trendline being a point of resistance and an ascending trendline acting as a price support.
The price of the security moves between these trendlines until it eventually breaks out to the upside. This pattern will typically be preceded by an upward trend
The most telling part of this pattern is the ascending support line, which gives an indication that sellers are starting to leave the security. After the sellers are knocked out of the market, the buyers can take the price past the resistance level and resume the upward trend.
Waiting to enter on confirmation after the scrip breakout and the bulls come in complete flow over the scrip :)
Rest in charts..
Fundamental - The company is debt-free, has been maintaining a healthy dividend payout of 38.09% e.t.c. Overall, A sound company to invest for long for atleast minimum 4-5 months as it has the potential to go beyond 52-week highs, this time
www.screener.in/comp...PTECHT/consolidated/
