An Interesting Chart Pattern setting up is of ANUP ENGINEERING;
- From 2020-21 we had a 1 year H&S formation which did not breakdown and became a bullish pattern above the right shoulder, giving a move of ~ 550 to 1230.
- Post fall, the stock took support at 0.618 Fibo levels, retracing the upmove from 2020 lows.
- The reversal base turned out to form an Inverse H&S Pattern breaking out and retesting.
- A Cup and Handle seems to be in formation from Jan2022.
All in all, a very clean pattern based chart. Seems bullish given the current trend and chart pattern.
Subscribe To Our Free Newsletter |