Flag in upward trend in Prabhu Bank
Sun, Apr 5, 2015 12:00 AM on Technical Analysis,
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Price trend |
Direction leading to the chart pattern. |
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Shape |
Looks like a small rectangle trending to price trend. |
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Trend lines |
Prices move between two parallel, or near parallel, trend lines. |
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8 weeks |
Flag are short, less than 3 months period. Patterns longer than that are rectangle or channels. |
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Flag pole |
The flag pole which leads to the flag should be unusually steep and last several weeks. |
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Volume trend |
Starting weeks trading above 2,00,000 after several weeks below 2,00,000. |
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Breakout |
Upward trading this week above 1,00,000. |
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Buy/Target |
Confirmation the chart pattern by the height from the start of the price move point A (315) to the end of the price move B (350) and then the bottom of the flag C (329) to upward breakout from the top of the flag C (331) to get the target D (366). |
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Sell/Stop |
Below the flag pole point A (315) or breakout trend line. |
Sagun Shakya
Jeevan Shrestha
-Technical Analyst-
Disclamer:
