BEL Possible Long Opportunity (Waiting for Handle breakout)
Kindly consider this as knowledge sharing and not any kind of recommendation!
Bharat Electronics is forming a Cup & Handle Pattern on a WEEKLY timeframe
Important Observations
1. Price is near the demand zone as well as lower channel line of Handle
2. Volumes on the consolidation of the handle are low
3. A handle is considered valid if retracement is 1/3 to 1/2. We haven't reached that level yet
All in all, keeping my eyes on this Script!
Bharat Electronics is forming a Cup & Handle Pattern on a WEEKLY timeframe
Important Observations
1. Price is near the demand zone as well as lower channel line of Handle
2. Volumes on the consolidation of the handle are low
3. A handle is considered valid if retracement is 1/3 to 1/2. We haven't reached that level yet
All in all, keeping my eyes on this Script!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.