Apollo hospitals making a Double Top
We see strong resistance at 1800 levels after peaking out at Feb 20th and than came crashing down to 1300 levels.
On a weekly chart we see it at the higher end of Bollinger band.
Earnings are in 3 days and expected to be a weak quarter due to Covid if you compare it to peers Aster and Narayan Health.
Next Target at 1629 and the following which we see strong support at 1434 levels which is close to 50% retracement.
Wait for a higher opening on Monday and than can initiate a short with a stop loss of 1800.
On a weekly chart we see it at the higher end of Bollinger band.
Earnings are in 3 days and expected to be a weak quarter due to Covid if you compare it to peers Aster and Narayan Health.
Next Target at 1629 and the following which we see strong support at 1434 levels which is close to 50% retracement.
Wait for a higher opening on Monday and than can initiate a short with a stop loss of 1800.
Note
playing outNote
small correction the 78.6% retracement results to 1646 level looks weakTrade closed: target reached
Target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.