Long
MULTIPLE SUPPORT ZONE BREKAOUT
Since Nov’21, the stock is in down trend, forming lower tops and bottoms
With current close, the stock has violated its five months “multiple support zone” (2670) on a closing basis
Rising volumes at breakdown zone Nimplies increased participation
The stock is sustaining below its 20, 50 and 100 as well 200 Day SMA which reconfirms bearish sentiments ahead.
The daily and weekly strength indicator RSI is in bearish mode along with negative crossover which supports rising weakness.
The above analysis indicate downside of 2560-2500 levels.
With current close, the stock has violated its five months “multiple support zone” (2670) on a closing basis
Rising volumes at breakdown zone Nimplies increased participation
The stock is sustaining below its 20, 50 and 100 as well 200 Day SMA which reconfirms bearish sentiments ahead.
The daily and weekly strength indicator RSI is in bearish mode along with negative crossover which supports rising weakness.
The above analysis indicate downside of 2560-2500 levels.
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