 |
Recommendation
Buy
Target
: 17.50 & 18.50
Recommended
Price : 16.50
Stop
Loss: 15.90
STOCK
SUMMARY:-
Major
trend of is bullish on chart. It has been trading with higher top and
higher bottom formation. It has shown a small correction from
significance high now it is facing resistance at 16.50. We
recommend the stock to buy the stock if it crosses its resistance of
16.50. One can keep the stop loss of its previous significance low of
16 and stock is likely continue north ward movement in upcoming
session and targets of 17.50 & 18.50 can be seen in short term,
15.90 on hourly chart can act at stop loss.
CHART FORMATION:-
Stock
is forming ascending triangle with the support of 200 DMA on hourly
chart and 50 DMA placed above 200 DMA and expanding of golden cross
showing that momentum in the stock may remain positive and likely to
show northward movement with expanding of bullish gap and the
breakout of upper resistance level.
INDICATORS:-
MACD
Line is likely to cross its single line, which can bring upward
momentum in the stock.
No comments:
Post a Comment