April 3, 2011

  • AT&T chart is showing price and volume breakout in weekly Time frame.
  • Price has closed on a high with good buying volume.
  • Price is consolidating in short time. Next long entry can be taken when price breakout of this pattern. 
  • MICROSOFT DESCENDING TRIANGLE PATTERN
  • LIC Housing Finance gave a perfect breakout from a channel along with volume spike.
  • Notice the steady decrease in volume when price moves inside the channel. One can avoid false breakouts if the breakout does not have a volume spike. In this case we had both.
  • Price was also forming an ascending triangle pattern.
  • Price has closed above 200 DMA. Stock will move higher if 200 DMA holds. 
  • LAST UPDATE ON LIC HOUSING FINANCE

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore