Bullish case for DB Corp
Db Corp has broken out of its post crash consolidation by clearly crossing the resistence line at 89 with fairly high volumes.
As long as the stock stays above 90, we can expect higher levels in the short term.
The 50 % Fibonacci price retracement level comes to 102 odd. This matches a short term price resistance level on the chart at 104.
Otoh, the 78.6 % Fibonacci price retracement level comes to 127.95 which is close to a technical resistance in the chart at around 123.
Cmp 93
Sl (closing basis) 89
Tgt (short term) 104
Tgt (medium term) 123
Happy trading.
As long as the stock stays above 90, we can expect higher levels in the short term.
The 50 % Fibonacci price retracement level comes to 102 odd. This matches a short term price resistance level on the chart at 104.
Otoh, the 78.6 % Fibonacci price retracement level comes to 127.95 which is close to a technical resistance in the chart at around 123.
Cmp 93
Sl (closing basis) 89
Tgt (short term) 104
Tgt (medium term) 123
Happy trading.
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