ABB on watchlist| Possible Ascending triangle breakout
Updated
ABB is bullish on multiple timeframes and is consolidating in an ascending triangle near ATH. Sustained close above 3,450 with decent volumes make it ideal for a breakout. If not the stock can retest the lower trendline of the triangle.
Note: This is not a buy/sell recommendation. Just learning and sharing my views for educational purposes and open to feedback from the community. Thanks!
Note: This is not a buy/sell recommendation. Just learning and sharing my views for educational purposes and open to feedback from the community. Thanks!
Note
Sustained above 3450 on 3rd May with more than average volumes and trading at 3635 (current market price) on 4th May. Further upside can be expected as no overhead resistance now and breakout happened after a prolonged healthy consolidation.
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