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| Discuss Can anyone validate this chart? at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Just got his from Amibroker for Ester Industries Ltd. Is it a ascending triangle pattern?.. ... |
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#1
22nd November 2004, 04:18 PM
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Can anyone validate this chart?
Just got his from Amibroker for Ester Industries Ltd. Is it a ascending triangle pattern?..
~Rajesh.B 
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#2
22nd November 2004, 04:35 PM
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Re: Can anyone validate this chart?
Quote:
Is this an automated chart analysis by amibroker or have you drawn it your self?
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#3
22nd November 2004, 06:38 PM
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Re: Can anyone validate this chart?
Traderji,
The yellow lines (for triangle formation) were drawn by me..I wanted to cross check with you folks as well so that i can go ahead for checking other stocks. But unforutnately I am not able to come up with the correct target price. Will it be the 22 or 23? ~Rajesh.B
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#4
22nd November 2004, 06:40 PM
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Re: Can anyone validate this chart?
RSI (62%) looks better?? and MACD cross over is also there in this scrip.
Is it correct?..or should I look for some other indicators as well Traderji?..Please guide. ~Rajesh.B
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#5
23rd November 2004, 12:54 AM
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Re: Can anyone validate this chart?
Quote:
You are jumping the gun pal.It's not a triangle but more of a narrowing ascending bottom or a narrowing ascending wedge. You are drawing the connecting trendlines too far back.Connect them to recent bars and you will see the difference.The apex is too far back to call it a valid triangle.There is no clear trend too for now.Has potential though.  CV [img]http://smilies.sofrayt.com/^/aiw/*****.gif[/img] Last edited by CreditViolet; 13th July 2008 at 09:34 PM.
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