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shekarg

Apollotyre Price Channel Breakout, Can it fall till 93?

Short
APOLLO TYRES (NSE:APOLLOTYRE)  
shekarg Updated   
NSE:APOLLOTYRE   APOLLO TYRES
Parallel Channel Moving Averages
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parallelchannel movingaverage
APOLLOTYRE is taking good support(5 times) on the bottom trend line. After spending almost 6 days near the bottom trend line the stock has broken the support, also the RSI on daily chart went below 50 level, indicating bearishness in the stock, expecting it to fall till 98 level.
Comment:
it seems like a break out failure.
Trade closed manually
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