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Endurance technologies had formed a double bottom over 2 months time with good volume at both the support zone. Its heading towards the resistance zone now. We can look for LONG position, if it crosses the previous resistance zone. The formation also resembles a triangle pattern. Please provide your comments.
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I am new to Technical Analysis and this is the first chart i am interpreting charts after training.
As per my theoretical understanding .Volume Happened on 16-3-2018
left Bottom (A) – Date : 16-3-2017 , price is 1194.
Expected Right bottom (B) -date : 08-05-2018 . price is 1195 .No volume on these day
But on that or the next day it does not form lower bottom.Volume is seen 1 week later.
I am not sure weather we can consider it as double bottom or not.
Some Experts can comment.
Hi Palanivel,
Thanks for your comments. Me too very new to technical analysis and this is my first one. Wanted to publish my view and get it corrected from some experts so that it would be a good learning experience.
Fantastic discussion, thanks for interaction about analysis
I see the volume around the second bottom, although it was not there but still in few days we had a good volume and then price started moving outside. Hence I find this as an evidence of aggressive trading at II bottom we can consider this as a qualified double bottom since the duration not other conditions are also matching so as mentioned in the charts we can consider buying stocks and we should maintain stop loss at the bottom..