As can be seen from the Image below the stock has formed a Harmonic Pattern more specifically a Bullish Gartley Pattern. The Stock is facing resistance to close above the 50 Daily Exponential Moving Average (DEMA), this can be observed from the last three candles.
While studying Harmonic Patterns in price I also consider volume to see correlations with Price retracements that form it. In CAIRN unfortunately I do not see volume correlation.
Despite the above fact I would trade CAIRN on the long side above 334 with a Stop Loss of 320 with an expected target of 355.
Those willing to trade this pattern I would advise to take profits as you see fit, and not wait for the level I have posted, trader discretion is always advised.
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