McDowell Long opportunity
MCDOWELL_NStock -> United Spirits (McDowell)
TimeFrame -> Weekly
Hello all!
United Spirits broke out of the symmetrical triangle pattern on 27 September 2021. The stock since then has been consolidating ever since thus forming a flag and pole pattern and has now finally come to retest the triangle it broke out of. It makes for a good opportunity to go long.
The perfect entry would be after the breakout of the flag pattern. The stock is also nearing its "Golden zone" (between 50%-61.8% Fibonacci retracement) . Thus accumulation in small quantities can also be done at this point.
The analysis would become invalid if the flag pattern is broken on the downside.
*NOT A CALL*
#mcdowell #unitedspirits #nifty #fibonacciretracement #technicalanalysis #swingtrading
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