JKPaper Technical Analysis

Hi All,
Can you please look at the attached char of JK paper. Is there a descending triangle formation.. Is is a BUY on breakout of this descending triangle.

Please help me validating my observation. I am a novice in technical analysis. I just read a couple of books and Installed F Charts and Yahoo data downloader.

Thanks for your help.


Regards,
Vikranth

Hi vikranth

Checked your chart. The pattern is not a decending triangle. Maximum it could qualify as a falling wedge.

However there are the general opinion is that a falling wedge should have a time period of 3-6 months. Of course there are contrary opinions too.

A falling wedge could be a reversal or continuation pattern. Watch the voulme as expansion of volume is crucial for falling wedge breakouts.

Anyway mostly it could be just a pullback.. worth watching though..

Enclosing my chart

regards

Karthik

Thanks a lot for your reply.

Regards,
Vikranth

Chart of jk paper

http://www.traderji.com/technical-analysis/8911-my-charts-my-technical-charts-tset-4.html

Jay