Over the last 10 months HCL TECHNOLOGY has shown a remarkable upward trend, consolidating into decent triangular pattern. Last week it breached its trend line and indicating a good potential move. If the market remains Bullish, there is strong possibility this will outperform.
If market favors, this stock is more likely to show a decent move as it is still down by 12% from its all time high level.
If market favors, this stock is more likely to show a decent move as it is still down by 12% from its all time high level.
Trade active:
I'm still holding the stock even though it has dropped nearly 8% from where we bought it. We set a trailing stop loss at around 10% near the 1080 level. If it reaches the stop loss, we'll sell it. But if it doesn't fall further and starts consolidating, we may consider buying more (averaging down) to reduce our overall entry price. I still believe in the potential of this stock.
