 |
| CLP Holding |
Recommendation : Buy
Target
: 67 & 70
Recommended
Price : 64.70
Stop
Loss: 63
STOCK
SUMMARY:-
Major
trend of is sideways on chart. It has been trading side ways range
with positive biasness . It has shown significant accumulation during
last trading session. We recommend the stock to buy on break out of
upper resistance level 64.75 and stock is likely showed north ward
movement on the break out of same. One can initiate long position in
the stock at recommended level of 64.75 and can expect the targets of
67 & 70 in short term, while support of 200 DMA at 63 on hourly
chart can act at stop loss.
CHART
FORMATION:-
Stock
is in sideways trend and forming rectangle pattern and it has been
trading with support of support of 50 DMA and 200 DMA . Appearance of
golden cross showing that momentum in the stock may remain positive
and ikely
to show northward movement on the breakout of upper resistance level.
INDICATORS:-
MACD
Line is likely to cross its single line, which can bring upward
momentum in the stock.
RSI is
also trading above 50 mark on daily charts and showing conversion
with prize trend.
On ADX positive DI Placed above negative DI and ADX trading above 25 mark.
On ADX positive DI Placed above negative DI and ADX trading above 25 mark.
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