Chart Check: After 13% in a week, this stock records breakout from descending triangle pattern

Angel One’s stock price broke out of a descending triangle pattern which could push it towards Rs 1,800 in the next 3-4 months, according to experts. The stock saw a rise of over 13% in a week and has risen nearly 50% since March. However, the sharp price recovery seen in the stock has also led to it being overbought with its RSI at 73.6, indicating a potential pullback. On a positive note, the stock is trading above most short and long-term moving averages on daily charts and has displayed a favorable correction since July 2021.