Apollohospital- Direction to be decided soon.
Diupdate
This Chart gave a breakout sometime back. Now again looking at chart it seems little interesting to me. I will post few different views that I found interesting.
Lets start with weekly chart.
A hammer on weekly chart means someone did push this stocks price up. but it may be a fake signal as well so adding to this i will show another view with the help of another tool.
If we look at this chart we will find that the retracement level has already reached 38% and the retest level is exactly at 61% of the retracement tool. This stock might come for the retest but that should be a little far away . Price Action of the chart is showing that it might want to go back up with 38% retracement level.
Let's look at the price action chart as well.
If we see the price action as i tried my best to draw it on chart we can see that this is the first time (after the fall) that price is trying to halt itself and it is trying to consolidate. But what will trigger this trade is when it breaks this consolidation either on up side or if it breaks on the down side then door will open for the retest.
I hope this might help someone to understand different scenarios of the trade.
Keep an eye ladies and gentleman. Cheers and Happy Trading.
Lets start with weekly chart.
A hammer on weekly chart means someone did push this stocks price up. but it may be a fake signal as well so adding to this i will show another view with the help of another tool.
If we look at this chart we will find that the retracement level has already reached 38% and the retest level is exactly at 61% of the retracement tool. This stock might come for the retest but that should be a little far away . Price Action of the chart is showing that it might want to go back up with 38% retracement level.
Let's look at the price action chart as well.
If we see the price action as i tried my best to draw it on chart we can see that this is the first time (after the fall) that price is trying to halt itself and it is trying to consolidate. But what will trigger this trade is when it breaks this consolidation either on up side or if it breaks on the down side then door will open for the retest.
I hope this might help someone to understand different scenarios of the trade.
Keep an eye ladies and gentleman. Cheers and Happy Trading.
Catatan
Trade activated in the downward direction
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