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I'm going to list two stocks, whose targets according to one classical pattern is way below zero 
The stocks may surprise you due to the reputation associated with these companies.
In all my screen reading of Thousands of hours, this is the first time I'm seeing such things.
The stocks may surprise you due to the reputation associated with these companies.
In all my screen reading of Thousands of hours, this is the first time I'm seeing such things.
#InterestingPatterns
Head&Shoulders
Calculation of Targets:
The first target of a Head & Shoulder Pattern is the price difference between the head and low point of the
shoulder. This difference is then subtracted from the neckline breakdown level to provide a price target.
Head&Shoulders
Calculation of Targets:
The first target of a Head & Shoulder Pattern is the price difference between the head and low point of the
shoulder. This difference is then subtracted from the neckline breakdown level to provide a price target.
Some Rules
1. These are just some fun facts that I discovered during my regular analysis, don't trade on them
2. It is better to ignore such stocks.
3. Definitely avoid going long or short.
4. Though they won't go below Zero, but why to even invest in them?
1. These are just some fun facts that I discovered during my regular analysis, don't trade on them
2. It is better to ignore such stocks.
3. Definitely avoid going long or short.
4. Though they won't go below Zero, but why to even invest in them?
Stock No. 1
#MothersonSumi
Owned by a fellow Sehgal.
A reputable name in the industry.
But the Charts are indicating a Price target below ZERO.
High of Head - Low of Shoulder= Downside Target
In this case,
260-90=170
So, a breakdown of 90 and the targets of -80
#MothersonSumi
Owned by a fellow Sehgal.
A reputable name in the industry.
But the Charts are indicating a Price target below ZERO.
High of Head - Low of Shoulder= Downside Target
In this case,
260-90=170
So, a breakdown of 90 and the targets of -80
Stock No. 2
#ashokleyland
High of Head= 165
Low Of Shoulder= 75
165-75= 90.
And the targets of -Rs 15 from the breakdown level of 75.
#ashokleyland
High of Head= 165
Low Of Shoulder= 75
165-75= 90.
And the targets of -Rs 15 from the breakdown level of 75.
Disc: These are just fun facts.
NO TRADE CAN BE TAKEN BASED ON THIS.
Just your own discretion and wisdom
Just wanted to break the monotony and share something interesting
#StockMarkets #Nifty50 #IndianStocks
NO TRADE CAN BE TAKEN BASED ON THIS.
Just your own discretion and wisdom
Just wanted to break the monotony and share something interesting
#StockMarkets #Nifty50 #IndianStocks
