Hourly Chart Analysis:
Current Trend: Bearish in the short term
Moving Averages:
20, 50, and 100 EMAs are moving with the price, indicating a current trend alignment
The 200 EMA is acting as a significant support level
Fibonacci Retracement:
Using a retracement from the recent low to high, the stock is taking support at the 38.2% level, which is 1490.05
Recent Performance:
Since October 2023, the stock has shown a strong rally
Given the technical indicators, it's prudent to add Bombay Burmah Trading Corporation Ltd to your watchlist for potential trading opportunities.
Research, Trade, and Invest:
Conduct thorough research before making any investment decisions.
Monitor the stock closely, especially its movement around key support and resistance levels.
Be prepared to act on trading signals aligned with your strategy.
Disclaimer:
This analysis is for informational purposes only and does not constitute investment advice. Always consult with a financial advisor before making any investment decisions.
Current Trend: Bearish in the short term
Moving Averages:
20, 50, and 100 EMAs are moving with the price, indicating a current trend alignment
The 200 EMA is acting as a significant support level
Fibonacci Retracement:
Using a retracement from the recent low to high, the stock is taking support at the 38.2% level, which is 1490.05
Recent Performance:
Since October 2023, the stock has shown a strong rally
Given the technical indicators, it's prudent to add Bombay Burmah Trading Corporation Ltd to your watchlist for potential trading opportunities.
Research, Trade, and Invest:
Conduct thorough research before making any investment decisions.
Monitor the stock closely, especially its movement around key support and resistance levels.
Be prepared to act on trading signals aligned with your strategy.
Disclaimer:
This analysis is for informational purposes only and does not constitute investment advice. Always consult with a financial advisor before making any investment decisions.