On MACD and RSI stock is showing extreme bullishness. Though stock moved from the initial buying point of 920 to 990 but volatility is very low indicating price action to happen. It is experiencing some supply at 1000 levels. Once it close above 1000 sellers will be taken out.
Jk tyres and Apollo tyres are also forming bullish patterns, chances are not only they make new 52 week highs but also attempts new high.
Rubber prices of late has been softening.
MRF came out with bad numbers so some shifting can be expected. MRF losing market share will benefit other companies. Agri is one segment which will face least headwinds. Also As per Goodyear management they are getting good hold of the replacement market.
GOODYEAR
Please note that I am not a registered advisor so make your due diligence before taking any decision.
Jk tyres and Apollo tyres are also forming bullish patterns, chances are not only they make new 52 week highs but also attempts new high.
Rubber prices of late has been softening.
MRF came out with bad numbers so some shifting can be expected. MRF losing market share will benefit other companies. Agri is one segment which will face least headwinds. Also As per Goodyear management they are getting good hold of the replacement market.
GOODYEAR
Please note that I am not a registered advisor so make your due diligence before taking any decision.
Comment:
10 day moving average has crossed the 21 day average and stock is trading well above that.
Comment:
Jk tyre trading @ 150, so made 52 high today.
Trade closed: target reached:
stock is showing weakness. and overall market not that great. time come out of everything.