Flag ANd Pole

Launch Chart
KUNAL KAMBLE
CAH
·
Oct 14 2023
snapshot
On a daily time frame, Apple has exhibited a Flag and Pole pattern, typically considered a continuation pattern, suggesting a potential resumption of the prior trend. In Cardina Health, the prevailing trend is bullish, with a slight retracement leading to the formation of this pattern. A breakout to the upside is expected to reignite the uptrend, potentially leading to a substantial upward move and the creation of a new all-time high. Conversely, a downside breakdown would signify a change in the trend.
At present, the price is trading in close proximity to both the Fast and Slow EMA. For a breakout confirmation, it's important that the price trades above both EMAs.
Moreover, the momentum indicator RSI is currently hovering near the 70 mark. For a breakout confirmation, the RSI should ideally not exceed 75. If the RSI reaches 75, it's advisable to wait for a throwback and then enter the trade following the throwback.