SUNFLAG: Combining Rounding Bottom with Time Cycle

We had applied ichimoku indicator on SUNFLAG and were able to capture a 6.25% move in a single day till now. You can also use these to identify stocks with momentum for short-term trades.

While trading the market it is important to understand the behaviour of the market. Using price action along with Time we can predict price moves in stock with high accuracy. Check out how we recently identified one such breakout in SUNFLAG.

We published SUNFLAG analysis in "The Financial Waves Short Term Update" on 24th January 2023 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.

 

SUNFLAG Weekly chart as on 24th January 2023: (Anticipated)

 

SUNFLAG Hourly chart as on 24th January 2023: (Anticipated)

SUNFLAG (Anticipated)Weekly chart as on 25th January 2023: (Happened)

Wave analysis as on 24^th January 2023

SUNFLAG has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 1.39%.

On the weekly chart, in the previous session prices formed a bullish candle. A weekly close above 137 level will confirm breakout of the rounding bottom pattern. We have shown ADX indicator which gives an indication if the stock is trending or in a trading range. The low readings of ADX indicates that the stock is in a range. The adx of this stock is 43.35 giving an indication of a trending market. The reading above 25 means strong directional strength

As shown on the hourly chart, price has recently bounced from the ichimoku cloud which can act as near-term support zone. Closest support is placed at 130.

In short, trend for this stock is positive. Use dips towards 136-137 as a buying opportunity for a move towards 155-157 levels as long as 130 holds on the downside.

Happened

The stock moved as we expected and have given breakout of rounding bottom with huge volume. In such choppy market we have managed to identify such stock which has potential to show further up move. We have plotted 40 weeks’ Time cycle in which it has captured many important lows and recent low made near 90 levels which was captured by our cycle and since then stock has shown an exceptionally well rally.  

For now, we can expect this rally to continue. One should avoid catching tops and use dips to ride the trend.

Master of Cycles – It is possible to forecast price using Time cycles as well and this trading secret is known only to a limited few. We will be relieving the entire science of Time trading using Hurst’s Time cycles, Gann sq of 9 and Price Time forecasting on 11^th – 12^th February 2023, Early Bird ends on 26^th January 2023 – Act now, Know more here