MANGCHEFER - Weekly Chart Analysis, CMP-152.75
Nice contraction of volumes is see while the stock is consolidating and taking support of 73-90 zone and thereafter sustaining well above 98-104 supply zone too which it failed to earlier.
It is trading above all its key moving averages too.
Well it has broke our of this base and sustained well above it for 2 weeks now.
119-125 shall now act as good support and weekly close with a follow through below these levels will invalidate our view.
169 - 264 - 359 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
It is trading above all its key moving averages too.
Well it has broke our of this base and sustained well above it for 2 weeks now.
119-125 shall now act as good support and weekly close with a follow through below these levels will invalidate our view.
169 - 264 - 359 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.