Stock after giving breakout of Cup& handle ,now retraced back to the 61% fibonacci level and Trendline support with decreasing volumes suggesting accumulation
Since the handle of cup is not taken down, longs can be initiated
Another interesting factor is the formation of inverted hammer on daily chart , indicating end of downtrend
Look for a followup confirmation candle , next week and
buy with Stoploss below the support on DCB
Since the handle of cup is not taken down, longs can be initiated
Another interesting factor is the formation of inverted hammer on daily chart , indicating end of downtrend
Look for a followup confirmation candle , next week and
buy with Stoploss below the support on DCB