IEX at very important support and looking little weak. 20 DMA is slightly broken but 50 DMA is intact. Historically IEX has taken support at 50 DMA and yet again price could take support at it. Next week is important and we shall wait and decide. RSI is well above 65 and it is also taking support at trendline.
Disclaimer: This is not a recommendation. Please invest after your own analysis.
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IEX nicely took support at fibonacci level 0.236 and reversed from there by forming and dogi and a bullish candle next to dogi indicating a positive momemtum. At the same time, RSI is also showing positive momentum and reversed by taking trendline support.
Thanks dear. I will remember your insights while trading with IEX. Their Bonus share got approved thru ballot & 6th Dec.is the Record Date, I guess.
sckeshari344
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@Rajesh_08, yes, I would suggest to hold this share if you already have it. This share is rewarding and good to keep for long term. You can opt SIP method to invest.
Rajesh_08
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@sckeshari344, Thanks for the affirmation. I am sitting at 16% notional downside at the current market price. I am not worried much since they are into almost monoplistic business with very robust profit margin.
hvmishra
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My feeling is that it will test gap level of 712 before going up.
sckeshari344
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@hvmishra, I see more downside coming in IEX as 20 EMA and DMA. It could take support at 50 DMA as it has taken before. Let's see.