MOTHERSON -Symmetrical Triangle -Breakout-Daily
Motherson chart formed symmetrical triangle pattern. In technical analysis, this pattern is characterized by two converging trendlines, with the price making lower highs and higher lows over time, ultimately forming a triangle shape. This formation often indicates price consolidation before a potential breakout.
The upper trendline connects the highs, while the lower trendline connects the higher lows.
The breakout appears to have occurred as the price moved above the upper trendline, which is typically seen as a bullish signal, suggesting the potential for a further upward move toward the target of ₹246.01, as indicated on the chart.
Additionally, the volume increase during the breakout confirms the strength of this move, which is an essential validation for the symmetrical triangle breakout pattern.
Support at 195 which is breakout candle low.
Motherson chart formed symmetrical triangle pattern. In technical analysis, this pattern is characterized by two converging trendlines, with the price making lower highs and higher lows over time, ultimately forming a triangle shape. This formation often indicates price consolidation before a potential breakout.
The upper trendline connects the highs, while the lower trendline connects the higher lows.
The breakout appears to have occurred as the price moved above the upper trendline, which is typically seen as a bullish signal, suggesting the potential for a further upward move toward the target of ₹246.01, as indicated on the chart.
Additionally, the volume increase during the breakout confirms the strength of this move, which is an essential validation for the symmetrical triangle breakout pattern.
Support at 195 which is breakout candle low.
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。