How to use Price Patterns with Indicators for analysing stocksDec 27, 2021
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It is possible to capture explosive moves in stocks using price patterns and simple indicators like the Ichimoku cloud. Check out how we selected HIRECT which has rallied more than 13% within 4 days.
We published the following research on HIRECT pre-market on 23rd December 2021 in "The Financial Waves Short Term Update” which our subscribers receive pre-market every day.
HIRECT Daily chart as on 23rd December 2021 (Anticipated):
HIRECT Daily chart as on 27th December 2021 (Happened):
Waves analysis as published on 23rd December 2021:
On the daily chart, in the previous session prices formed a bullish candle. Prices have given close above 233 level which confirms breakout from the pattern. The stock is trading above Ichimoku cloud which indicates that the short-term bias is bullish. The RSI was also near the overbought region which gave us an indication that we can expect a minor dip.
In short, the trend for this stock is positive. Use dips towards 230-225 as buying opportunity for a move towards 255-260 levels as long as 210 holds on the downside.
Happened: After we published the report, the stock dipped towards 225 levels as we expected and within a short span it gave a return of more than 13% and achieved the target near 255 levels.
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