ROHLTD - How to use Price Action with Indicators for analysing stocks

macd price pattern stocks Mar 23, 2022
stocks, Price Action, MACD

Like this Article? Share it with your friends!



MACD is a trend following indicator that used moving averages to determine the momentum of the stock. When MACD line crosses the Signal line, it often interpreted as buying opportunity. Whereas if MACD line crosses below the Signal line, it is considered be as bearish crossover.

Look at the below chart of ROHLTD published in the Equity research report on 11th March 2022 morning before markets opened – The Financial Waves short term update


ROHLTD AS ON 23rd MARCH 2022 (Happened)

Wave analysis as we published on 11th March 2022

On the daily chart, in the previous session prices formed a bullish candle. A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. Price has closed above 100 which confirm breakout of cup and handle pattern. MACD is above 0 and on Wednesday the MACD line crossed above the MACD signal line which indicates that bullish momentum has increased in this stock and may continue in the coming session.

In short, trend for this stock is positive. Use dips towards 110-111 as buying opportunity for a move towards 123-125 levels as long as 106 holds on the downside.

HAPPENED: The stock moved precisely as expected. The stock made the dip towards 109 levels which are near levels which we have mentioned in our report. Post we can see that after span of time ROHLTD made 52- weeks high of 125.50 levels which is more than 14% up from the mentioned levels.

Holi offer - Subscribe to the Equity calls under the ongoing offer and get research report free, Offer ends soon. Know more here

3 months of Mentorship on Timing the Market – Be a part of the Elite #TimeTraders and you will be transformed as a trader. Learn the risk management, money management strategy with algo creation, stock selection, complete trade plan using Elliott wave, Neo wave, Time cycles and handholding with exclusive access to webinars for lifetime. Fill out the form below for more