Head & Shoulder pattern in Auto Axles.

24 Nis

Auto Axles has been corrected from 2449 to 1860 by forming Lower High and Lower Lows. Price has been reverted from supply zone (1730 - 1800) on weekly time frame. It has formed higher high recently showing possibility of trend reversal and has also formed Head & Shoulder pattern on daily time frame and current price is near to neck line of H&S pattern, Having possibility for uptrend move. Share is trading below 200 D SMA.
CMP - 1866
RSI - 51
Entry price - 1885
Target price - 2070 (around 10%)
SL - 1790 (5%)


Disclaimer - This is for education purpose only. I am not a SEBI registered analyst. Take advise from your financial advisor before investing.

3 May

İşlem aktif

5% up from entry price.

24 Haz

İşlem kapandı: hedefe ulaştı

Target achieved. As there is a stop loss hit but that was on 4 June,2024 which was the election result date and there was a panic for a day.