Will BEL Sustain ?
Güncellendi
This is 1D timeframe.
After a good bullish rally it went in a consolidation for last 3 months and now showing some strength.
1] Last day it had gave breakout from this bullish pennant pattern,
with a strong Bullish Belt Hold candlestick type.
2] It have recently gave strong rejection to bears and have formed bullish hammer at support trendline.
3] Volume increment with breakout.
It is near it's short term resistance(R1) which is at 249-252.
If this is broke by it in next coming days and give a closing, then there is high propability that it may hit it's 52 week high.
This post is for information purpose only.
After a good bullish rally it went in a consolidation for last 3 months and now showing some strength.
1] Last day it had gave breakout from this bullish pennant pattern,
with a strong Bullish Belt Hold candlestick type.
2] It have recently gave strong rejection to bears and have formed bullish hammer at support trendline.
3] Volume increment with breakout.
It is near it's short term resistance(R1) which is at 249-252.
If this is broke by it in next coming days and give a closing, then there is high propability that it may hit it's 52 week high.
This post is for information purpose only.
Not
From 245.50 on 15th July to high of 276.90 on 28th July.12.7% in just two weeks.
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