ENGINERSIN : Interesting Level of 160-165 - Triple Top?
Its been observed on weekly chart for ENGINERSIN, that from last 5 years, its tried to touch 160-170 levels 3 times and never closed above 170 (On weekly closing basis). This stock is in uptrend from quiet sometime and reach to this resistance.
Currently its trading at same resistance level and showing the southward direction. There is good opportunity to short for TP of 130 and then 125 with strict SL of 165 (On weekly closing basis).
Please note that recently this script got split. So for calculation or to compare earlier chart, multiply the price with 2. (E.g. 30/06/2014, high price 165.85 was actually 331.7).
Currently its trading at same resistance level and showing the southward direction. There is good opportunity to short for TP of 130 and then 125 with strict SL of 165 (On weekly closing basis).
Please note that recently this script got split. So for calculation or to compare earlier chart, multiply the price with 2. (E.g. 30/06/2014, high price 165.85 was actually 331.7).
Trade active:
On 20/01 : Last price 146
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