Bullish Butterfly Harmonic Pattern formation is seen in VARROC. From a long term perspective analysis is shared here.
Why Now this pattern is important : From a daily chart retest of 271 levels (very important support zone) is seen. .236 levels tested on upside and came down 20 MA is touched and is now a bit far away In weekly chart, last two candles forming 2 Crow candle stick pattern (not completed yet) Vol is increasing
What probably can happen next : Scenario 1 : If the retest is successful then the stock can go up to levels ... 302/336/383/443/477 Scenario 2 : If the retest fails then the stock can go down up to levels ... 240/197/174/153/128