UnitedBreweries broke out of a weekly double bottom or W pattern which is a bullish reversal pattern.
Since the pattern formed and broked out on a Weekly Timeframe, I am bullish on #UBL for upcoming few weeks.
Notice how price got supported and bounced from 200WMA multiple times before breaking out of the pattern.
This shows long term bulls are strong.
Expecting price to go up till 1600 and 1800.
The trade setup would be invalidated if weekly candle closes back below 1440.
Since the pattern formed and broked out on a Weekly Timeframe, I am bullish on #UBL for upcoming few weeks.
Notice how price got supported and bounced from 200WMA multiple times before breaking out of the pattern.
This shows long term bulls are strong.
Expecting price to go up till 1600 and 1800.
The trade setup would be invalidated if weekly candle closes back below 1440.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.