Analysis of charts - discussion share ur views

[SwingKing]

Hi all

I post here the chart of Amar raja batteries, with the following doubts in mind.

I see from the charts that an ascending triangle pattern is formed, during the formation of the triangle as expected the volumes dried, but then suddenly during the MONTH OF JAN THE VOLUMES ARE PICKING UP.

A) Does this mean the their is going to be a break out soon or else this can not be qualified as ascending triangle at all..

B) Till this day i was thinking that volumes must pickup only after the breakout has occurred. Is my thinking correct?

c) Lastly as usual i request the senior members to tell me is it correct to buy the stock at CMP lvls?
Regards
Saivenkat

Sai,

More than Technicals , for this case u need to be more subjective.

1. Prev Trend is in place. Since most of Triangles are continuation patterns, it is likely that trend will continue ..

2. Now if volume part is confusing ... u have to look at the candles where volume has picked up ... most of the candles have been green ... this is again +ve ...

3. This stock belongs to the Auto Ancillary Inds .... which at present is on a roll ... and hence keeping this view in mind it is poss for the stock to breakout n continue ..

4. When in doubt, switch to the larger time frame .. just switch to weekly view n look at the graph ... is thr anything to worry about ?? Well, not at all ..
Start accumulating slowly .. Hope u knw the probe test method ..

 

[saivenkat]

Thanks a lot friend, I will buy in small quantities. Take care.:rofl:

 

[FanaticTrader]

Hi All,

I am a rookie in TA and still trying to learn from this great forum and with so many knowledgeable ppl around I a sure I am rite place. I have been visiting numerous thread and wanting to make some contribution as well.

I was watchin DISH TV other day and seems to have formed some intresting pattern.

I guess with all the news building around the counter, this is all set to head north.

Any views?

 

[rkkarnani]

Check it out, nice webinar for Indicators etc. Very educative too :

http://www.traderplanet.com/Webinars/chart_patterns/index.html

 

[FanaticTrader]

Is SBI headed to form Pennant Pattern?

 

[bunny]

[CHART]

Is SBI headed to form Pennant Pattern?

I think its too big a pennant. Usually they are formed immediately after a big move.

 

[saivenkat]

Hi all, as always i tried to analyze about the fall in sensex with linear regression lines, and have placed here for your opinions and suggestions to help me to improve better.

Regards
Saivenkat

 

[choudri]

GOODLUCK AND GOD BLESS U :thumb::clap::clapping:

 

[Q8 Stock]

thank for all

 

[veluri1967]

Here is a chart for tiny investors like me.

Wait and Watch Chart for a low priced stock.