The stock has already formed the DOUBLE TOP pattern.
A double top has an 'M' shape and indicates a bearish reversal in trend.
Now forming Symmetrical triangle, the value is going lower but it has strong support point to be noted and the volume is not increasing so price will take some time to go for the target that is 187 nearby.
(Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.)
Buy in pull back that is 181-178.
Maintain stop-loss.
A double top has an 'M' shape and indicates a bearish reversal in trend.
Now forming Symmetrical triangle, the value is going lower but it has strong support point to be noted and the volume is not increasing so price will take some time to go for the target that is 187 nearby.
(Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.)
Buy in pull back that is 181-178.
Maintain stop-loss.
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