HBLPOWER: Combining Rounding Bottom with Ichimoku cloud

ichimoku cloud price action stocks May 05, 2022
stocks, Ichimoku Cloud, Trading

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While trading the market it is important to understand the behaviour of the market. Using price action along with indicators like Ichimoku clouds we can predict price moves in stock with high accuracy.

We published HBLPOWER analysis in "The Financial Waves Short Term Update" on 26th April which our subscribers receive pre-market every day. Check out below the detailed research report that we published.

HBLPOWER Daily chart as on 26th April 2022: (Anticipated)

HBLPOWER Daily chart as on 05th May 2022: (happened)

Wave analysis as on 25th April 2022:

On the daily chart, in the previous session prices formed a bullish candle. A close above 83.65 levels will confirm the breakout of rounding bottom pattern. Price is trading above the Ichimoku cloud which indicates that the short-term bias is bullish.

In short, trend for this stock is positive. Use dips towards 80-81 as buying opportunity for a move towards 90-91 levels as long as 77 holds on the downside

Happened: The stock moved as we expected. HBLPOWER have given breakout of rounding bottom with huge volume which was a bullish sign. Within three sessions, the stock has achieved our target at 92.20 levels giving 15% move.

In such a volatile market, the stock is holding well at the higher levels. Any fresh breakout of the consolidating range can start a fresh rally on the upside.

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