HBL power has been in an upward sloping channel since August 2023. I have marked the lower end of the channel by a solid blue line. The higher end of the channel has been marked by two dotted blue lines. And since past few trading sessions stock price has broken out above the higher end of channel and consolidating in a tight price range.
I have marked a higher parallel line in solid blue . This marks the upper end of another channel above previous channel. Height of both channels is same. This new channel marked on top of previous trading channel sometimes provides potential targets and indicates possible resistances. Will continue to monitor this chart going ahead for learning purpose.
| Subscribe To Our Free Newsletter |
