CUB at 10 year old trendline support
Updated
CUB is trading at 10 year old trendline support, this has acted as a good support for atleast three times in past and so far price has respected this in last weekly closing. Weekly RSI is currently around 32, which is indicating oversold and stock is trading near to its Covid Low.
Although, the stock is trading below most of the key moving averages but long term support zone provide here a good risk to reward in long side and fresh shorts here may be very risky unless and until price breaks down key support areas.
Anticipating here a turn around and may be in coming weeks price can form a double bottom on weekly charts to start its journey again on upside.
Although, the stock is trading below most of the key moving averages but long term support zone provide here a good risk to reward in long side and fresh shorts here may be very risky unless and until price breaks down key support areas.
Anticipating here a turn around and may be in coming weeks price can form a double bottom on weekly charts to start its journey again on upside.
Note
CUB 129 todayNote
125.85 to 133 till nowNote
140+ till nowNote
152++
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