Just a Pull back or formation of Bullish MAT? #OLA

4 дня назад

The Bullish Mat Hold is a rare and powerful candlestick pattern that signals the continuation of an uptrend.

It is a consolidation pattern consists of no of candles:
A tall and positive first candle, followed by no of small, negative candles. A series of smaller candlesticks, typically bearish (red or black), showing a slight pullback or consolidation.
These candles generally stay within the range of the first large bullish candle, indicating the bulls are waiting for right time to take back the control.

However key consideration
1. The bullish mat hold is more reliable in higher time frames (e.g., daily or weekly charts).
2. Always confirm the pattern with other technical indicators (e.g., RSI, MACD) or fundamental analysis for stronger reliability.
3. Be cautious of false signals in low-volume markets or during periods of high market noise

Refer EMUDHRA chart for comparison. Similar to OLA, Emudhra after listing consolidated however the consolidation was within the first big bullish candle and the moment Emudhra broke the consolidation the stock rallied from 530.

Ola also lost track after stock listing, RSI dropped on daily chart to oversold zone. Thus, with similar formation OLA can we expect ola to hit 230 levels?

Note: the above comparison is only technical chart pattern. Fundamentals of both the companies are different and thus please take your financial advisor opinion before investing.