OMAXAUTO - Symmetrical Triangle + Cup & Handle Pattern - Swing
The above analysis is done purely based on price action and chart patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets
Apart from chart patterns, one more reason to go long in this stock is the good performance of Auto-Sector Shares even in falling market.
Entry can be made above the high of breakout candle or on small pullbacks. SL and Targets are shown in image itself.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets
Apart from chart patterns, one more reason to go long in this stock is the good performance of Auto-Sector Shares even in falling market.
Entry can be made above the high of breakout candle or on small pullbacks. SL and Targets are shown in image itself.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.