Cords Cable Rounding Bottom Pattern and Pole and Flag Pattern

2 окт. 2023 г.

📊 NSE:CORDSCABLE In-Depth Analysis at 102.7 🚀

📈 Long-Term Upside Potential:
Over the past 5 years, this stock has shown significant upward movement. Starting from a breakout in a rounding bottom pattern at the 85-level, it's been on a consistent bullish trajectory. This historical context sets the stage for further analysis.

📉 Current Consolidation Phase:
Presently, the stock is in a consolidation phase, trapped between the recent breakout at 85 and a current resistance level of 110. This phase often acts as a precursor to significant price movements, making it a pivotal moment for traders.

🚩 Pole and Flag Formation:
Notably, the price action within these levels resembles a pole and flag pattern. This classic chart formation often signifies an impending substantial price shift. Traders are closely monitoring to catch the breakout.

📊 Volume Confirmation:
A compelling aspect is the alignment of price movements with increasing trading volume. Elevated volume is often an indicator of heightened market interest and participation, reinforcing the bullish potential of this stock.

🎯 Crucial Price Level at 110:
The key focal point is the 110-level. If the stock can maintain its position above this level, it could signify further price appreciation, with targets in the range of 140 to 155. The 155-level holds long-term significance as a technical milestone.

🔒 Robust Support at 85:
The 85-level, which originally marked the breakout from the rounding bottom pattern, now functions as a sturdy support level. In the event of a pullback, keeping an eye on the 90-level is also advisable.

📈 CORDSCABLE is displaying intriguing potential, and staying informed is the first step in navigating this evolving opportunity!

#TechnicalAnalysis #Investing #Trading 📊📈📉