Trendline and 200 DMA Break
Stock seems to have broken the 5 Year Uptrend Line
- Stock has also broken 200 DMA and is currently testing it as resistance, not a good sign again.
- If the rejection of 200 DMA is confirmed, a short position could be considered here.
- The downtrend might have started after the triple top formation earlier as highlighted by the rectangle.
- The stock could go down till the next support level as highlighted
- Stock has also broken 200 DMA and is currently testing it as resistance, not a good sign again.
- If the rejection of 200 DMA is confirmed, a short position could be considered here.
- The downtrend might have started after the triple top formation earlier as highlighted by the rectangle.
- The stock could go down till the next support level as highlighted
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