Jump to: Pattern Result
Date and Arrival Time: 2021-02-16 11:15
Symbol Name: ONGC
Pattern and Direction: Bullish – Pennant
Pattern Completion Price: 104.00, Pattern Ideal Completion Price: 102.15
A Bullish Pennant Break has arrived at 11:15.
This is a pattern with a formation span of 38 days, over 60 minute chart intervals starting from 2020-12-22 10:15 – 2021-02-16 11:15.
There is a potential Buy opportunity at Rs. 104.00 . A safe stop-loss for this Bullish Pennant can be kept at 95.60 as per the pattern. PatternSurfer always advocates tight stop-losses to maintain the best risk-reward ratios .
UPDATE: 16th March – Success!
Let’s take a look at the results of this Bullish Pennant break. After failing to hit the second target of the pattern, traders can use the smaller target as a comfortable take-profit level, which is yet a booked profit of nearly 10%.
