LIN
The daily chart is in oversold and trying for exit out of oversold.
Horizontal line support are at 298 and 282.
If these support are held then expect pull back.
The gap down will offe resistance at higher levels.
The lower top is at 325.
Gap is around 304-310.
Expect resistance and supply at higher range
till 325 is not crossed.
Oversold and support of 298-282 hold the key
for consolidation.
Breakdown below 282 can lead to alisde
to 50% and 61.8% retracement of the rise from
March 20 low of 145 to 351 Jan 22
If we flip to monthly chart then it indicates
that if breakdown below 282 seen then
effect of negative divergence on RSI
can be witnessed.
MACD has cut its average could lead to loss
of momentum.
It critical to surive the support as shown
by black horizontal lines.
Support could be opportunitic short term
investors
Pullback rise to resistance and gap can be
to reduce exposure in stock as it could lead
to deeper correction.
The daily chart is in oversold and trying for exit out of oversold.
Horizontal line support are at 298 and 282.
If these support are held then expect pull back.
The gap down will offe resistance at higher levels.
The lower top is at 325.
Gap is around 304-310.
Expect resistance and supply at higher range
till 325 is not crossed.
Oversold and support of 298-282 hold the key
for consolidation.
Breakdown below 282 can lead to alisde
to 50% and 61.8% retracement of the rise from
March 20 low of 145 to 351 Jan 22
If we flip to monthly chart then it indicates
that if breakdown below 282 seen then
effect of negative divergence on RSI
can be witnessed.
MACD has cut its average could lead to loss
of momentum.
It critical to surive the support as shown
by black horizontal lines.
Support could be opportunitic short term
investors
Pullback rise to resistance and gap can be
to reduce exposure in stock as it could lead
to deeper correction.