TVS motors leading automobile company as we are seeing some demand in 2wheelers electric model here TVS motors making a Tripple top i.e Head and Shoulder pattern and stock was previously forming the pole and flag treated as channel formation the stock breaks downward and move towards the selling side now in 1day time frame it can go for further sell-side below the closing of 985.
What is a Triple Top pattern?
Triple top is a bearish pattern
A triple top or triple peak is a bearish chart pattern. It is very dependable in stock chart patterns used in technical analysis. It is straightforwadefined by three clear peaks formingat form about the same level in the market. This pattern is a specific form of the head and shoulders pattern. Just that the three peaks top around the same price levels the same way the double top does.
The first peak in this chart pattern is made when the prices fall back after a trending period in the market. Prices rise again to the same level as the first peak but buyers will not get sufficient momentum to drive prices up through the resistance. The third peak forms in the same way.
There’s a chance that prices can fall short or go beyond the previous highs, as long as they all top at the same price levels. No matter what happens, every peak has to be on a decreasing volume.
What is a Triple Top pattern?
Triple top is a bearish pattern
A triple top or triple peak is a bearish chart pattern. It is very dependable in stock chart patterns used in technical analysis. It is straightforwadefined by three clear peaks formingat form about the same level in the market. This pattern is a specific form of the head and shoulders pattern. Just that the three peaks top around the same price levels the same way the double top does.
The first peak in this chart pattern is made when the prices fall back after a trending period in the market. Prices rise again to the same level as the first peak but buyers will not get sufficient momentum to drive prices up through the resistance. The third peak forms in the same way.
There’s a chance that prices can fall short or go beyond the previous highs, as long as they all top at the same price levels. No matter what happens, every peak has to be on a decreasing volume.
