GRWRHITECH - Weekly Chart Analysis, CMP-1728.75
After breaking the resistance / supply zone of 889-929, last September the stock was rally without any base making. And finally it topped and started to form a base from November.
After 12week of base formation and a range of 22% it has finally sustained above the 1542 for the 2 weeks now. Volumes were low on retracements and last two week volumes are decent enough showing strength.
1357 shall now act as a support and a weekly close with a follow up shall negate our view on this.
As there is not much over the left side so for upside targets we have to move purely with the price action as well as also take view of the moving averages(dynamic support).
So unless the price action stays positive and it sails above its key moving averages we are good to go.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
After 12week of base formation and a range of 22% it has finally sustained above the 1542 for the 2 weeks now. Volumes were low on retracements and last two week volumes are decent enough showing strength.
1357 shall now act as a support and a weekly close with a follow up shall negate our view on this.
As there is not much over the left side so for upside targets we have to move purely with the price action as well as also take view of the moving averages(dynamic support).
So unless the price action stays positive and it sails above its key moving averages we are good to go.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.