ADANI PORTS | ASCENDING TRIANGLE | BULLISH CONTINUATION
ADANI PORTS stock was trading in a downtrend making lower highs and lower lows, getting rejected by a downtrend line.
on 25 July, the price broke and closed above the downtrend line, signalling price might start moving up now.
Also, check how price is continuously making higher highs and higher lows just before breaking the downtrend line.
This shows, buyers are strong.
Currently, the price is consolidating in an ASCENDING TRIANGLE which is a BULLISH Continuation pattern.
I would be interested in the stock once Daily closes above 760 with stop loss below 725.
Targets:-
1. 825
2. 910
3.975
But first, wait for a daily breakout above the triangle.
on 25 July, the price broke and closed above the downtrend line, signalling price might start moving up now.
Also, check how price is continuously making higher highs and higher lows just before breaking the downtrend line.
This shows, buyers are strong.
Currently, the price is consolidating in an ASCENDING TRIANGLE which is a BULLISH Continuation pattern.
I would be interested in the stock once Daily closes above 760 with stop loss below 725.
Targets:-
1. 825
2. 910
3.975
But first, wait for a daily breakout above the triangle.