It is possible to capture massive moves in stocks using price patterns along with simple indicators like the ADX (Average Directional Index).
We used these 2
indicators on WOCKPHARMA and were able to
capture a 56% move in a short span. You can also use these to identify
stocks with momentum for short-term trades.
We published WOCKPHARMA
analysis in "The Financial Waves Short Term
Update" on 15th November
2023 which our subscribers receive pre-market every day. Check out below the
detailed research report that we published.
WOCKPHARMA Weekly Chart Anticipated 15th November 2023
WOCKPHARMA Daily Chart Anticipated 15th November 2023
Wave Analysis as on 19th December 2023
WOCKPHARMA has been moving higher
recently and intact in strong uptrend. In the previous session it closed with a
massive gain of 10.92%. On the weekly chart, in the previous session prices
formed a bullish candle.
Stock has formed a classical
reversal pattern inverted head and shoulders which indicate a
bearish-to-bullish trend reversal and also suggest accumulation pattern. Now
weekly close above 270 level will confirm breach of neckline of the pattern and
suggests that move towards 315-320 zone has started where conservative target
as per right shoulders is placed.
As shown on the hourly chart, we
have applied parabolic SAR which used to determine the price direction as well
as draw attention to when the price direction is changing. A series of dots
placed below the price which is deemed to be a bullish signal. Closest support
is placed at 270.In short, trend for this stock is positive. Use dips towards
280-282 as a buying opportunity for a move towards 315-320 levels as long as
270 holds on the downside.
WOCKPHARMA Weekly Chart Happened as on 27th December 2023
Happened: After we published the report, the stock made a dip
exactly towards 280 levels which we mentioned earlier. Within the short span of
time, the stock has given more than 56% return in such volatile market and moved
way beyond our target which was of 320 levels. Stock made high of 428.85.
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