Study of the daily and hourly charts of Rane Enegines brings in a sharp similarity. Both are showing consolidations with a triangle formation extending beyound 75% of the base, indicating its ripe for a breakout. The blue resistance line also is a resistance on the daily charts. (Not sure how to show both timeframes in the same post)
The stock should either breakout to make new highs and resume its northward jorney or get into a more serious consolidation/correction in a couple of sessions.
Certainly worth watching out!
The stock should either breakout to make new highs and resume its northward jorney or get into a more serious consolidation/correction in a couple of sessions.
Certainly worth watching out!