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is Polymed In Rounding Bottom?

Discussion in 'Technical Analysis' started by sakhashinde, Dec 10, 2020.

  1. sakhashinde

    sakhashinde New Member

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    polymed.png
     
    sakhashinde, Dec 10, 2020
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes it is forming the rounding bottom pattern. However, rounding bottom is a trend reversal pattern and more applicable after a downtrend. However, it is not that it only forms in a downtrend.
     
    shabbir, Dec 11, 2020
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  3. jazeelfarooq

    jazeelfarooq Active Member

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    Shabbir, Rounding bottom forms in down trend, then how its possible in up trend. Polymed chart in up trend!

    my second doubt is - rounding pattern in up trend is bullish sign ? some people are telling that the stock is in accumulation process by bigger hands
     
    jazeelfarooq, Dec 11, 2020
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  4. jazeelfarooq

    jazeelfarooq Active Member

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    Pls see rounding Botton in Nestle but Stock is in long term up trend (Weekly chart from 31-07-20 to 10-12-20
    upload_2020-12-11_12-19-23.png
     
    jazeelfarooq, Dec 11, 2020
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  5. jazeelfarooq

    jazeelfarooq Active Member

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    Maruty Rounding bottom in DOWN TREND 01-10-20 to 04-12-20 in weekly chart

    upload_2020-12-11_12-33-38.png
     
    jazeelfarooq, Dec 11, 2020
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  6. shabbir

    shabbir Administrator Staff Member

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    Yes normally but then the small correction in the stock can also lead to accumulation that looks like a round formation. It is more like a rectangle but the base of the rectangle is not perfectly straight but has a slight rounded one.
     
    shabbir, Dec 11, 2020
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