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HCL TECH
Price Pattern: Bullish Triangle
Position: Long
Duration: 45 Days
Entry: 820
Volume is low throughout the body of the triangle
Target: 960(820+140)
Stop Loss: 670(810-140)
The profit target is attained by:
1.Subtracting the high price of the formation from the low price (usually the points where each trendline begins, but not always exactly). This will produce a positive number.
2.If the breakout is to the upside, add the number from step 1 to the breakout price (the price at which the resistance line was broken). This provides the target for the breakout.
3.If the breakout is to the downside, subtract the number from step 1 from the breakout price (the price at which the support line was broken). This provides the target for the downside breakout
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