NSE 0.00% 0.4¢ new standard energy limited

Was nervous times to keep the 3 year + uptrend in tact. Amazing...

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    Was nervous times to keep the 3 year + uptrend in tact. Amazing how it bounces off lines like that sometimes! I don't do a lot of TA but trendlines are nice was of seeing how the momentum is going.

    It also broke to upside of the Pennant.



    As you can see above, it's broken out of it's Pennant. Not on super strong volume though...

    Per investopedia:

    Definition of 'Pennant'
    A continuation pattern in technical analysis formed when there is a large movement in a stock, the flagpole, followed by a consolidation period with converging trendlines, the pennant, followed by a breakout movement in the same direction as the initial large movement, the second half of the flagpole.

    As can be seen in the above picture, there is a large rise in the stock, followed by a converging consolidation period that resembles a pennant and a resulting continuation of the initial trend.



    I would say the TA guys would be looking for some bigger volume in the coming days to confirm this. It could well come with another good drilling report ;)
 
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