Union Bank of India has formed Inverted Head & Shoulders Pattern on monthly timeframe.
This bullish technical formation often signifies a potential trend reversal, hinting at a shift from a downward trajectory to an upward one.
Adding to this positive outlook, the Relative Strength Index (RSI) has climbed above 60, indicating a growing strength in the stock's momentum. As RSI measures the speed and change of price movements, this rise could be indicative of increasing buying interest and a potential uptrend in the making.
These combined signals from both the inverted head and shoulders pattern and the RSI suggest that the stock might be on the cusp of a significant upward move.
Traders and investors are keenly watching this setup as they anticipate a potential bull run in the coming months.
Support - 75
Resistance - 180/240
This bullish technical formation often signifies a potential trend reversal, hinting at a shift from a downward trajectory to an upward one.
Adding to this positive outlook, the Relative Strength Index (RSI) has climbed above 60, indicating a growing strength in the stock's momentum. As RSI measures the speed and change of price movements, this rise could be indicative of increasing buying interest and a potential uptrend in the making.
These combined signals from both the inverted head and shoulders pattern and the RSI suggest that the stock might be on the cusp of a significant upward move.
Traders and investors are keenly watching this setup as they anticipate a potential bull run in the coming months.
Support - 75
Resistance - 180/240
Not
144
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.
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.