Descending Continuation Triangle

 What is Descending Continuation Triangle?

Descending Continuation Triangle
 A Descending Continuation Triangle (Classic Pattern) is considered a bearish signal, indicating that the current downtrend may continue.
A Descending Continuation Triangle features two converging trendlines. The bottom trendline is horizontal and the top trend line slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower. The pattern displays two highs touching the upper trendline and two lows touching the lower trend line.
This pattern is confirmed when the price breaks out of the triangle formation to close below the lower trendline.
Volume is an important factor to consider. Typically, volume follows a reliable pattern: volume should diminish as the price swings back and forth between an increasingly narrow range of highs and lows. However, when the breakout occurs, there should be a noticeable increase in volume. If this volume picture is not clear, investors should be cautious about decisions made based on this pattern.

Important Characteristics

Following are important characteristics of this pattern.
Occurrence of a Breakout
Technical analysts pay close attention to how long the Triangle takes to develop to its apex. The general rule is that prices should break out – clearly penetrate the lower trendline – somewhere between three-quarters and two-thirds of the horizontal width of the formation. The breakout, in other words, should occur well before the pattern reaches the apex of the Triangle. The closer the breakout occurs to the apex the less reliable the formation.
Duration of the Triangle
The Triangle is a relatively short-term pattern. It may take from one to three months to form.
Shape of Descending Continuation Triangle
The horizontal bottom trendline need not be completely horizontal.
Volume
Investors should see volume decreasing as the pattern progresses toward the apex of the Triangle. At breakout, however, there should be a noticeable increase in volume.

Trading Considerations

Duration of Pattern

Consider the duration of the pattern and its relationship to your trading time horizons. The duration of the pattern is considered to be an indicator of the duration of the influence of this pattern. The longer the pattern the longer it will take for the price to reach its target. The shorter the pattern the sooner the price moves. If you are considering a short-term trading opportunity, look for a pattern with a short duration. If you are considering a longer-term trading opportunity, look for a pattern with a longer duration.
Target Price
The target price provides an important indication about the potential price move that this pattern indicates. Consider whether the target price for this pattern is sufficient to provide adequate returns after your costs (such as commissions) have been taken into account. A good rule of thumb is that the target price must indicate a potential return of greater than 5% before a pattern should be considered useful. However, you must consider the current price and the volume of shares you intend to trade. Also, check that the target price has not already been achieved.
Inbound Trend
The inbound trend is an important characteristic of the pattern. A shallow inbound trend may indicate a period of consolidation before the price move indicated by the pattern begins. Look for an inbound trend that is longer than the duration of the pattern. A good rule of thumb is that the inbound trend should be at least 2 times the duration of the pattern.

Criteria that Support

Look for a region of support at the bottom trendline and a line of resistance at the highest high of the Descending Continuation Triangle.
Moving Average
Compare prices to the 200 days Moving Average. When prices are close to or touch the 200-day Moving Average this signal is considered stronger.
Volume
A strong volume spike on the day of the pattern confirmation is a strong indicator in support of the potential for this pattern. The volume spike should be significantly above the average of the volume for the duration of the pattern. In addition, the volume during the duration of the pattern should be declining on average.

Criteria that Refute

No Volume Spike on Breakout
The lack of a volume spike on the day of the pattern confirmation is an indication that this pattern may not be reliable. In addition, if the volume has remained constant, or was increasing, over the duration of the pattern, then this pattern should be considered less reliable.
Short Inbound Trend
An inbound trend that is significantly shorter than the pattern duration is an indication that this pattern should be considered less reliable.
Underlying Behavior
This pattern with its increasingly lower highs and constant lows indicates that sellers are more aggressive than buyers.

Cup and Handle pattern

I) Cup and Handle Formation

Also a reversal pattern, but more obvious at the bottom rather than at the top
Basically looks like a coffee cup and a handle
There is a basing stage, accumulation phase (cup), then a breakout, followed by a pullback, forming what looks like a handle
Breaking out of the top of the cup is confirmation of a change in trend
C&H pattern
Cup & Handle

Cup & Handle

Few criteria
The cup should be more rounded than a “V”
The handle should be in the top part of the cup, not too deep
Cup pattern should take at least 7weeks to form
Volumes should contract in the handle and expand on b/out
Trading-Wise -> ENTRY
From a trade perspective, the buy is the area where the top of the cup is taken out
TARGET
Measure the distance to the low of the cup.Add that to the breakout area
STOP
At the low of the handle

I.a) Reverse Cup and Handle

Occurs at the top, rest all reverse of the above
LIVE EXAMPLE: CUP and HANDLE PATTERN:
Stock:     DCM
Pattern confirmed on 23rd March @ 83 CMP: 93 TARGET: 140+ Today I am posting a Live example of This pattern. The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O’Neil. Now trading in 180’s
BEML cup and handle formation
Cup and handle

 Contd. to Head & Shoulders pattern.

Bottom Triangle – Bottom Wedge

What is Bottom Triangle – Bottom Wedge?

Classic Pattern

Bottom Triangle and Bottom Wedges are considered to be bullish signals that mark a possible reversal of the current downtrend.

Description

Bottom Triangle and Bottom Wedge make up a group of patterns which have the same general shape as Symmetrical Triangles, Wedges, Ascending Triangles and Descending Triangles. The difference is that these particular formations are the reversal and not continuation patterns. These patterns have two converging trendlines. The pattern will display two highs touching the upper trendline and two lows touching the lower trend line. Contrary to Triangle formations, Wedges are characterized by their boundary trendlines both moving in the same direction.
This pattern is confirmed when the price breaks upward out of the Bottom Triangle or Bottom Wedge formation to close above the upper trendline.
Volume is an important factor to consider. Typically, volume follows a reliable pattern: volume should diminish as the price swings back and forth between an increasingly narrow range of highs and lows. However, when the breakout occurs, there should be a noticeable increase in volume. If this volume picture is not clear, investors should be cautious about decisions based on the particular Triangle or Wedge pattern.
Important Characteristics
Following are important characteristics for this pattern.
Occurrence of a Breakout
Technical analysts pay close attention to how long the pattern takes to develop to its apex. The general rule is that prices should break out – clearly penetrate the upper trend line – somewhere between three-quarters and two-thirds of the horizontal width of the formation. The breakout, in other words, should occur well before the pattern reaches the apex of the Triangle or Wedge. The closer the breakout occurs to the apex the less reliable the formation.
Duration of the Triangle or Wedge
This pattern is a relatively short-term. While long-term Bottom Triangle and Bottom Wedges do form, the most reliable patterns take between one and three months to form.
Volume
Investors should see volume decreasing as the pattern progresses toward the apex of the triangular or wedge-shaped pattern. At breakout, however, there should be a noticeable increase in volume.
Trading Considerations
Duration of the Pattern
Consider the duration of the pattern and its relationship to your trading time horizons. The duration of the pattern is considered to be an indicator of the duration of the influence of this pattern. The longer the pattern the longer it will take for the price to reach its target. The shorter the pattern the sooner the price move. If you are considering a short-term trading opportunity, look for a pattern with a short duration. If you are considering a longer-term trading opportunity, look for a pattern with a longer duration.
Target Price
The target price provides an important indication about the potential price move that this pattern indicates. Consider whether the target price for this pattern is sufficient to provide adequate returns after your costs (such as commissions) have been taken into account. A good rule of thumb is that the target price must indicate a potential return of greater than 5% before a pattern should be considered useful. However, you must consider the current price and the volume of shares you intend to trade. Also, check that the target price has not already been achieved.
Inbound Trend
The inbound trend is an important characteristic of the pattern. A shallow inbound trend may indicate a period of consolidation before the price move indicated by the pattern begins. Look for an inbound trend that is longer than the duration of the pattern. A good rule of thumb is that the inbound trend should be at least two times the duration of the pattern.

Criteria that Support

Support and Resistance
Look for a region of support or resistance around the target price. A region of price consolidation or a strong Support and Resistance Line at or around the target price is a strong indicator that the price will move to that point.
Moving Average
Watch for the 200-day moving average to flatten. When prices cross above the 200-day moving average (usually about two-thirds to three-quarters of the way through the pattern), the pattern is considered more reliable.
Volume
A strong volume spike upon the arrival of the example affirmation is a solid marker in the help of the potential for this example. The volume spike ought to be altogether over the normal of the volume help of the potential for this example. The volume spike ought to be altogether over the normal of the volume for the span of the example. What’s more, the volume amid the term of the example ought to be declining all things considered.
Criteria that Refute

No Volume Spike on Breakout

The absence of a volume spike upon the arrival of the example affirmation means that this example may not be dependable. Also, if the volume has stayed consistent, or was expanding, over the term of the example, at that point this example ought to be viewed as less dependable.

Short Inbound Trend

An inbound pattern that is fundamentally shorter than the example length means that this example ought to be viewed as less dependable.

 Underlying Behavior
This pattern is a result of converging trendlines of support and resistance which give this pattern its distinctive shape. This occurs because the trading action gets tighter and tighter until the market breaks out with great force. Buyers and sellers find themselves in a period where they are not sure where the market is headed. Their uncertainty is marked by their actions of buying and selling sooner, making the range of the price movements increasingly tight. As the range between the peaks and troughs marking the progression of price narrows, the trendlines meet at the “apex”.
The narrowing of the trading action and the decreasing volume of trade reflect the indecision in the market. Finally, consensus or decision in the market is reached and this is reflected as the price breaks out upward to close above the triangular or wedge-shaped boundary. A spike in volume on this breakout date reflects the stronger consensus that the financial instrument should move in that direction.

Continue reading “Bottom Triangle – Bottom Wedge”

Ascending Continuation Triangle

Ascending Continuation Triangle explained

Classic Pattern
An Ascending Continuation Triangle is considered a bullish signal. It indicates a possible continuation of the current uptrend.
Description
An Ascending Continuation Triangle shows two converging trendlines. The lower trendline is rising and the upper trendline is horizontal.This pattern occurs because the lows are moving increasingly higher but the highs are maintaining a constant price level.The pattern will have two highs and two lows, all touching the trend lines.This pattern is confirmed when the price breaks out of the triangle formation to close above the upper trendline.

Volume is an important factor to consider. Typically, volume follows a reliable pattern: volume should diminish as the price swings back and forth between an increasingly narrow range of highs and lows. However, when the breakout occurs, there should be a noticeable increase in volume. If this volume picture is not clear, investors should be cautious about decisions based on this Triangle.

Ascending Continuation Triangle

 

Important characteristics

Following are important characteristics of this pattern.
Occurrence of a Breakout
Technical analysts pay close attention to how long the Triangle takes to develop to its apex. The general rule is that prices should break out – clearly penetrate one of the trend lines – somewhere between three-quarters and two-thirds of the horizontal width of the formation. The breakout, in other words, should occur well before the pattern reaches the apex of the Triangle. The closer the breakout occurs to the apex the less reliable the formation.
Duration of the Triangle
The Triangle is a relatively short-term pattern. It may take between one and three months to form.
Shape of Triangle
The horizontal top trend line need not be completely horizontal but it should be close to horizontal.
Volume
Investors should see volume decreasing as the pattern progresses toward the apex of the Ascending Continuation Triangle. At breakout, however, there should be a noticeable increase in volume.

Trading Considerations

Duration of the Pattern
Consider the duration of the pattern and its relationship to your trading time horizons. The duration of the pattern is considered to be an indicator of the duration of the influence of this pattern. The longer the pattern the longer it will take for the price to move to the target price. The shorter the pattern the sooner the price move. If you are considering a short-term trading opportunity, look for a pattern with a short duration. If you are considering a longer-term trading opportunity, look for a pattern with a longer duration.
Target Price
The target price provides an important indication about the potential price move that this pattern indicates. Consider whether the target price for this pattern is sufficient to provide adequate returns after your costs (such as commissions) have been taken into account. A good rule of thumb is that the target price must indicate a potential return of greater than 5% before a pattern should be considered useful. However, you must consider the current price and the volume of shares you intend to trade. Also, check that the target price has not already been achieved.
Inbound Trend
The inbound trend is an important characteristic of the pattern. A shallow inbound trend may indicate a period of consolidation before the price move indicated by the pattern begins. Look for an inbound trend that is longer than the duration of the pattern. A good rule of thumb is that the inbound trend should be at least two times the duration of the pattern.
Criteria that Support
Support and Resistance
Look for a region of support at the lowest low and a line of resistance at the top of the Ascending Continuation Triangle.
Moving Average
Compare prices to the 200 days Moving Average. When prices are close to or touch the 200-day Moving Average this signal is considered stronger.
Volume
A strong volume spike on the day of the pattern confirmation is a strong indicator in support of the potential for this pattern. The volume spike should be significantly above the average of the volume for the duration of the pattern. In addition, the volume during the duration of the pattern should be declining on average.
Criteria that Refute

No Volume Spike on Breakout

The absence of a volume spike upon the arrival of the example affirmation means that this example may not be dependable. Also, if the volume has stayed consistent, or was expanding, over the term of the example, at that point this example ought to be viewed as less dependable.

Short Inbound Trend

An inbound pattern that is fundamentally shorter than the example length means that this example ought to be viewed as less dependable.

Underlying Behavior
This pattern with its increasingly higher lows and constant highs indicates that buyers are more aggressive than sellers. The pattern forms because a supply of shares is available at a fixed price. When the supply depletes, the shares quickly break out from the top trendline and move higher.

 

Chart patterns

Chart Patterns

Again and again, certain Chart patterns seem to develop on our charts. And we realize that the probability of reversal or continuation is greater with certain patterns. Not saying that the reverse cannot take place. Anything is possible and therefore we have our stops … but these patterns usually either reverse or continuing trends. Knowing about chart patterns is one more weapon in our arsenal.

Two types of Chart Patterns

a) Reversal Patterns: These patterns reverse trends -> Eg. Double Top, Double Bottom, Head and Shoulders, Cup n Handle.
b) Continuation patterns: These indicate a possible continuation in trends -> Eg. Triangles, Bull flag, Bear flag, Pennant.
Some Patterns are explained with examples from Indian Stock Market:
I)   Cup & Handle Pattern
 
II)  Head & Shoulders Pattern
 
III) Double Tops
 
IV) Triple Tops
 
V)   Triangles ( Symmetrical, Ascending, Descending, Expanding)
Head and Shoulders, Upside Breakout, ascending Triangle and Double Bottoms are all patterns which may be found in charts. The occurrence of these patterns can be quite advantageous as they often give strong indications of what is happening or about to happen. The negative aspect is that these patterns don’t really exist. They are subjective impressions placed on graphical history. A bit like mind reading. And we all know how easy that is!One piece of advice I was given a while ago about looking at patterns, trend lines and trend channels was “If the pattern isn’t blindingly obvious, then it doesn’t exist. If you force a pattern on the market you will generally pay for it with your money.

Technical Analysis course

TA course free

TA course free for all. If you are new to the study of technical analysis, you may be wondering just what technical analysis is. In its basic form, technical analysis is the study of past market data, primarily price and volume data  this information is used to make trading or investing decisions.

Website help you in learning technical analysis in a simple and easy way. We will provide you with examples from our Indian markets too.
We have following study material for aspiring technical analysts and traders :
A. Level 1 : In level 1 you learn following aspects of technical analysis .
1) Terminology of technical analysis
2) Methods of charting
3) Determination of price trends/basics of pattern recognition
4) Establishing price targets
5) Equity market analysis
6) Applying technical analysis to bonds, currencies, futures and options
B. Level 2 :  Only Studying is not enough until unless we apply our knowledge in real world. In this level you will apply theory and application of concepts and techniques covered in level 1 . Level 2 candidate must expand his/her understanding of technical analysis to apply various technical indicators and techniques in the analysis of the overall market or an individual security.
Below are some links for books on trading and technical analysis :
More e-books to be downloaded soon… keep visiting

nifty stocks

List of Nifty and NSE A-Grade stocks from Google Finance

Copy Paste these Nifty stocks codes to make your portfolio in google finance

See Following Video link on HOW To Link Your Google spreadsheet to Google finance for Getting Live stock quotes.

NSE:NIFTY NSE:BANKNIFTY NSE:RELIANCE NSE:SBIN NSE:TATASTEEL NSE:INFY NSE:TATAMOTORS NSE:PANTALOONR NSE:ICICIBANK NSE:RELCAPITAL NSE:DLF NSE:BHARTIARTL NSE:HINDALCO NSE:LT NSE:JPASSOCIAT NSE:MCDOWELL-N NSE:AXISBANK NSE:LICHSGFIN NSE:NHPC NSE:STER NSE:JINDALSTEL NSE:HDFCBANK NSE:MARUTI NSE:IFCI NSE:HINDPETRO NSE:JSWSTEEL NSE:HINDUNILVR NSE:ITC NSE:HDFC NSE:CAIRN NSE:PNB NSE:UNIPHOS NSE:SESAGOA NSE:TATAGLOBAL NSE:BPCL NSE:IBREALEST NSE:IDFC NSE:JISLJALEQS NSE:IDBI NSE:CANBK NSE:ADANIENT NSE:HEROMOTOCO NSE:IVRCLINFRA NSE:BANKBARODA NSE:BAJAJ-AUTO NSE:UNIONBANK NSE:YESBANK NSE:FINANTECH NSE:POWERGRID NSE:CESC NSE:CROMPGREAV NSE:GMRINFRA NSE:RENUKA NSE:BANKINDIA NSE:WIPRO NSE:TATACOMM NSE:RECLTD NSE:BATAINDIA NSE:CIPLA NSE:DENABANK NSE:HEXAWARE NSE:NTPC NSE:ZEEL NSE:CENTURYTEX NSE:COALINDIA NSE:ALBK NSE:OPTOCIRCUI NSE:RANBAXY NSE:PFC NSE:SAIL NSE:PUNJLLOYD NSE:ACC NSE:FEDERALBNK NSE:IDEA NSE:TATACHEM NSE:AUROPHARMA NSE:TITAN NSE:SINTEX NSE:AMBUJACEM NSE:INDIACEM NSE:SUNPHARMA NSE:APOLLOTYRE NSE:DRREDDY NSE:ABIRLANUVO NSE:ARVIND NSE:OFSS NSE:SUNTV NSE:IRB NSE:DIVISLAB NSE:IOC NSE:GODREJIND NSE:HCLTECH NSE:INDUSINDBK NSE:DISHTV NSE:JUBLFOOD NSE:ANDHRABANK NSE:ADANIPOWER NSE:LUPIN NSE:VIJAYABANK NSE:BIOCON NSE:GRASIM NSE:GAIL NSE:UCOBANK NSE:BHARATFORG NSE:GSPL NSE:JPPOWER NSE:ADANIPORTS NSE:IGL NSE:HAVELLS NSE:MCLEODRUSS NSE:ASHOKLEY NSE:SIEMENS NSE:GUJFLUORO NSE:PETRONET NSE:ULTRACEMCO NSE:WELCORP NSE:EXIDEIND NSE:ASIANPAINT NSE:INDHOTEL NSE:BHUSANSTL NSE:COLPAL NSE:IOB NSE:JSWENERGY NSE:ABB NSE:HINDZINC NSE:SRTRANSFIN NSE:MRF NSE:DABUR NSE:PTC

More List of Nifty and NSE A-Grade stocks

Company Name Industry Symbol Series ISIN Code
ABB India Ltd. INDUSTRIAL MANUFACTURING ABB EQ INE117A01022
Apollo Hospitals Enterprises Ltd. HEALTHCARE SERVICES APOLLOHOSP EQ INE437A01024
Ashok Leyland Ltd. AUTOMOBILE ASHOKLEY EQ INE208A01029
Bajaj Finance Ltd. FINANCIAL SERVICES BAJFINANCE EQ INE296A01016
Bajaj Finserv Ltd. FINANCIAL SERVICES BAJAJFINSV EQ INE918I01018
Bharat Electronics Ltd. INDUSTRIAL MANUFACTURING BEL EQ INE263A01016
Bharat Forge Ltd. INDUSTRIAL MANUFACTURING BHARATFORG EQ INE465A01025
Britannia Industries Ltd. CONSUMER GOODS BRITANNIA EQ INE216A01022
Cadila Healthcare Ltd. PHARMA CADILAHC EQ INE010B01027
Cairn India Ltd. ENERGY CAIRN EQ INE910H01017
Castrol India Ltd. ENERGY CASTROLIND EQ INE172A01027
Colgate Palmolive (India) Ltd. CONSUMER GOODS COLPAL EQ INE259A01022
Container Corporation of India Ltd. SERVICES CONCOR EQ INE111A01017
Cummins India Ltd. INDUSTRIAL MANUFACTURING CUMMINSIND EQ INE298A01020
DLF Ltd. CONSTRUCTION DLF EQ INE271C01023
Dabur India Ltd. CONSUMER GOODS DABUR EQ INE016A01026
Divi’s Laboratories Ltd. PHARMA DIVISLAB EQ INE361B01024
Emami Ltd. CONSUMER GOODS EMAMILTD EQ INE548C01032
GlaxoSmithkline Consumer Healthcare Ltd. CONSUMER GOODS GSKCONS EQ INE264A01014
Glaxosmithkline Pharmaceuticals Ltd. PHARMA GLAXO EQ INE159A01016
Glenmark Pharmaceuticals Ltd. PHARMA GLENMARK EQ INE935A01035
Godrej Consumer Products Ltd. CONSUMER GOODS GODREJCP EQ INE102D01028
Hindustan Petroleum Corporation Ltd. ENERGY HINDPETRO EQ INE094A01015
Hindustan Zinc Ltd. METALS HINDZINC EQ INE267A01025
Indiabulls Housing Finance Ltd. FINANCIAL SERVICES IBULHSGFIN EQ INE148I01020
Indian Oil Corporation Ltd. ENERGY IOC EQ INE242A01010
JSW Steel Ltd. METALS JSWSTEEL EQ INE019A01020
LIC Housing Finance Ltd. FINANCIAL SERVICES LICHSGFIN EQ INE115A01026
Marico Ltd. CONSUMER GOODS MARICO EQ INE196A01026
Motherson Sumi Systems Ltd. AUTOMOBILE MOTHERSUMI EQ INE775A01035
NHPC Ltd. ENERGY NHPC EQ INE848E01016
NMDC Ltd. METALS NMDC EQ INE584A01023
Oil India Ltd. ENERGY OIL EQ INE274J01014
Oracle Financial Services Software Ltd. IT OFSS EQ INE881D01027
Pidilite Industries Ltd. CHEMICALS PIDILITIND EQ INE318A01026
Power Finance Corporation Ltd. FINANCIAL SERVICES PFC EQ INE134E01011
Procter & Gamble Hygiene & Health Care Ltd. CONSUMER GOODS PGHH EQ INE179A01014
Punjab National Bank FINANCIAL SERVICES PNB EQ INE160A01022
Reliance Communications Ltd. TELECOM RCOM EQ INE330H01018
Rural Electrification Corporation Ltd. FINANCIAL SERVICES RECLTD EQ INE020B01018
Shree Cement Ltd. CEMENT & CEMENT PRODUCTS SHREECEM EQ INE070A01015
Shriram Transport Finance Co. Ltd. FINANCIAL SERVICES SRTRANSFIN EQ INE721A01013
Siemens Ltd. INDUSTRIAL MANUFACTURING SIEMENS EQ INE003A01024
Steel Authority of India Ltd. METALS SAIL EQ INE114A01011
Titan Company Ltd. CONSUMER GOODS TITAN EQ INE280A01028
Torrent Pharmaceuticals Ltd. PHARMA TORNTPHARM EQ INE685A01028
UPL Ltd. FERTILISERS & PESTICIDES UPL EQ INE628A01036
United Breweries Ltd. CONSUMER GOODS UBL EQ INE686F01025
United Spirits Ltd. CONSUMER GOODS MCDOWELL-N EQ INE854D01016
Vedanta Ltd. METALS VEDL EQ INE205A01025
FOR LIVE RATES VISIT THE Spreadsheet

Live Trades Trading log

Live Trades Trading log

This Live Trades Log shows Live trades and is a sample of how we trade and make money.

Live trades Start Capital on 15 March 2016:  1,00,000 INR 
Present Capital: 1,26,000 INR
Disclaimer:  All trades shown are for educational purpose only.

Trade Log

 Profit/loss calculated on Starting trading capital of 1 lakh per trade.
  • All delivery based trades are in cash segment of equity markets.
  • Please visit regularly for new calls and updates.
  • E-mail us for any type of help. We will be more than happy to help you.

Continue reading “Live Trades Trading log”

NSE: JPASSOCIAT Technical Analysis

JPASSOCIAT Technical Analysis

Short Term Stock views Posted on 11 December 2012
Contra Call: Short sell jp associate at 104-104.1, stop loss 105.9 closing basis, Targets 102-99.5
Reason: Dual Trendline Resistance
Comments: jp associate has shown a very sharp up move in a very short span of time. The stock has a very strong resistance on both daily and weekly stock charts at 105.6. As you can see the stock is shown inside two channels and both channels upper trendline intersects at a point which is Resistance for the stock. Also, RSI is coming down from the overbought region. Stock can show some retracement up to the mentioned levels in few days.
JPASSOCIAT Technical Analysis
Dual channel resistance