Is trend reversing in Godrej Consumer?
Updated
Is trend reversing in Godrej Consumer?
Reasons/Traits :
• Price is exactly at a point for breakdown of the trend (4th time trying to breakdown)
• 0.236 level will it break or take support to go up?
• Price about to touch 50 EMA
• Bullish since May
• RSI strength is reducing and is below 50
• Price is lower than previous higher highs
• Perfectly trying to reverse the wave trend
What can happen next :
Scenario 1 : Price sustaining 0.236 level can go up to 1140 and up taking 50 EMA support
Scenario 2 : Price break down of trend or 0.236 levels go to 0.382/0.5/0.618 levels to meet 200 EMA
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Price is exactly at a point for breakdown of the trend (4th time trying to breakdown)
• 0.236 level will it break or take support to go up?
• Price about to touch 50 EMA
• Bullish since May
• RSI strength is reducing and is below 50
• Price is lower than previous higher highs
• Perfectly trying to reverse the wave trend
What can happen next :
Scenario 1 : Price sustaining 0.236 level can go up to 1140 and up taking 50 EMA support
Scenario 2 : Price break down of trend or 0.236 levels go to 0.382/0.5/0.618 levels to meet 200 EMA
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Note
going down or will retest the trend line ?Note
Scenario 2 fib 0.5 touched..
Disclaimer
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