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Ayyan Investments: Rising momentum suggests substantial upside opportunity
Naranj Capital Research Desk
July 18, 2024
The price had been consolidating in a Rounding Bottom pattern for a while.
After breaking out, the stock price retraced and tested the breakout level.
Following that, the stock surged upwards with strong momentum and reached an all-time high near the 27 level.
Subsequently, the stock experienced a sharp rejection and dropped significantly.
A bearish Pole & Flag chart pattern emerged, indicating bearish market sentiments.
After the breakdown of that chart pattern, the stock price continued its downtrend until it reached the 15 level.
At that point, the price formed a Double Bottom pattern and recently made a breakout.
The stock price bouncing back from support suggests a potential trend reversal.
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