Following a brief pause, the previous upward trend is poised to resume.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
The pattern formed over 37 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
This bullish pattern can be seen on the Daily chart of $NSE:BFUTILITIE.
PLEASE NOTE THAT:
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
The pattern formed over 37 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
This bullish pattern can be seen on the Daily chart of $NSE:BFUTILITIE.
PLEASE NOTE THAT:
- This chart analysis is only for reference purpose.
- This is not buying or selling recommendations.
- I am not SEBI registered.
- Please consult your financial advisor before taking any trade
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