Shriram Transport - VCP in place
NSE:SRTRANSFIN
Volatility contraction pattern :
- Progressively weakening sellers in a strong trending stock
- first time, sellers managed to bring price down almost 20% from swing high to swing low
- then it became 12% and 8%
- range of bearish momentum candles that drove down prices has reduced
- volumes have been higher in the last 2 bearish candles, and price will most likely consolidate further in an even narrower range till the selling has been absorbed
- need a strong breakout above 1530 for confirmation
Volatility contraction pattern :
- Progressively weakening sellers in a strong trending stock
- first time, sellers managed to bring price down almost 20% from swing high to swing low
- then it became 12% and 8%
- range of bearish momentum candles that drove down prices has reduced
- volumes have been higher in the last 2 bearish candles, and price will most likely consolidate further in an even narrower range till the selling has been absorbed
- need a strong breakout above 1530 for confirmation
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