EQUITASBNK - Continuation Wedge (Bullish)
Daily chart analysis of EQUITASBNK tells me that following a brief pause, the previous upward trend is poised to resume.
A Bullish Continuation Wedge illustrates a momentary pause in an ongoing upward trend, characterized by two converging trendlines that both slope downward against the prevailing trend. Throughout this phase, there's a struggle between bearish and bullish forces, with bears attempting to gain control over bulls. Eventually, the bulls emerge victorious, as evidenced by a decisive breach above the upper trendline. This breach serves as an indicator that the prior upward trend is set to carry on.
Target is marked on the chart.
Note:
A Bullish Continuation Wedge illustrates a momentary pause in an ongoing upward trend, characterized by two converging trendlines that both slope downward against the prevailing trend. Throughout this phase, there's a struggle between bearish and bullish forces, with bears attempting to gain control over bulls. Eventually, the bulls emerge victorious, as evidenced by a decisive breach above the upper trendline. This breach serves as an indicator that the prior upward trend is set to carry on.
Target is marked on the chart.
Note:
- Traders and investors often use them in conjunction with other technical and fundamental analysis tools to make more informed decisions.
- This chart analysis is only for reference purpose.
- This is not buying or selling recommendations.
- I am not SEBI registered.
- Please consult your financial advisor before taking any trade.
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