Ultratech Cement | Inverted Head and Shoulders | Latest stock market news

(3 minutes read)

Stock name: Ultratech Cement

Pattern: Inverted Head and Shoulders

Time frame: Daily

Observation: The stock was in a down move and has now made an inverse head and shoulder pattern. After the breakout of such a pattern, the stock moves the distance equal to the distance between the neckline and the bottom of the head. If the stock crosses above previous swing high of 7030, then we can expect good upwards momentum in this stock.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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