Description
⋅ cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.
Comment
⋅ Another version of channel, Comment
⋅ regular bullish divergence seen in daily. Trade active
⋅ closed at 8902.05
Trade active
⋅ moving up as expected 9071.70
Trade active
⋅ till now 9140.
Trade active
⋅ till now 9270.
Comment
⋅ In daily, price closed above upper bb on Thursday, and bb is expanding, sign of bullishness. Trade active
⋅ Here is the weekly followup chart Trade active
⋅ bounced from trendline support, it should now move towards the channel resistance. Trade active
⋅ price moving up smartly, after bouncing from trend line support. till now 9477.75.
Trade closed: target reached
⋅ price finally reached the channel resistance, cheers, Comment
⋅ cmp - 8966.30, price cam down from the channel resistance took horizontal support at previous low, then started moving up,
looks like long term reversal is in progress. Comment
⋅ cmp - 8445.70, in weekly, horizontal support turned to resistance , also price unable to break 20 SMA. looks bearish