MosChip Technologies Bullish Flag Pattern
Current Price: 268.25 INR
The stock experienced a significant upward move followed by a consolidation phase.
The stock seems to be forming a Bullish Flag pattern
Moving Averages
MACD Indicator:
The MACD line (blue) is below the signal line (orange), indicating bearish momentum.
The histogram is also negative, which reinforces the bearish sentiment.
RSI Indicator:
Currently, the RSI is around 51.01, indicating neutral territory.
It previously showed an overbought condition when the stock peaked, and now it's cooling down.
Patterns and Key Levels
Support and Resistance Levels
Immediate Support: Around 265 INR
This is derived from the recent low.
Immediate Resistance: Around 280-285 INR
This is from the recent high during the consolidation phase.
Stock market analysis involves risk, and it's essential to use this information for educational purposes only. Always conduct your own research or consult with a financial advisor before making any investment decisions.
The stock experienced a significant upward move followed by a consolidation phase.
The stock seems to be forming a Bullish Flag pattern
Moving Averages
MACD Indicator:
The MACD line (blue) is below the signal line (orange), indicating bearish momentum.
The histogram is also negative, which reinforces the bearish sentiment.
RSI Indicator:
Currently, the RSI is around 51.01, indicating neutral territory.
It previously showed an overbought condition when the stock peaked, and now it's cooling down.
Patterns and Key Levels
Support and Resistance Levels
Immediate Support: Around 265 INR
This is derived from the recent low.
Immediate Resistance: Around 280-285 INR
This is from the recent high during the consolidation phase.
Stock market analysis involves risk, and it's essential to use this information for educational purposes only. Always conduct your own research or consult with a financial advisor before making any investment decisions.
Comment
The stock seems to be in a Pullback/Correction Phase after a strong uptrend:
Possible Fibonacci Retracement Levels: Using Fibonacci retracement, common levels to watch are 38.2%, 50%, and 61.8% retracement levels of the recent move.
38.2% Level: Around 228 INR
50% Level: Around 215 INR
61.8% Level: Around 202 INR
Assuming the stock is in a corrective phase, we can look for support around these Fibonacci levels to gauge potential buying opportunities.
Target Price Calculation:
Upside Target: If the stock finds support and reverses, immediate resistance levels to watch would be around 260-270 INR.
Downside Target: If the pullback continues, watch for support around 215 INR and 202 INR.
Stock market analysis involves risk, and it's essential to use this information for educational purposes only. Always conduct your own research or consult with a financial advisor before making any investment decisions.
Disclaimer
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