madras fertilizers - continuation wedge bullish pattern

12 Mar 2023

A continuation wedge bullish is a technical chart pattern that can indicate a potential bullish trend continuation. This pattern forms when the price of an asset has been in an uptrend and then starts consolidating in a tightening range, forming a wedge shape.

In a continuation wedge bullish pattern, the price tends to break out of the wedge pattern in the direction of the previous trend, signaling a continuation of the uptrend. Traders and investors can use this pattern to identify potential buying opportunities in the asset.

Madras fertilizers chart has been identified in my study as " continuation wedge bullish pattern has formed". In chart its clearly drawn and explained.

Disclaimer
However, it is important to note that technical analysis is not foolproof, and patterns such as the continuation wedge bullish can sometimes fail to play out as expected. Therefore, it is essential to use other forms of analysis and risk management strategies to mitigate potential losses.

Note: This study is for educational purpose only.

4 May 2023

İşlem kapandı: hedefe ulaştı

Target Reached, no further analysis!!