Topic Statement:
Nestle India’s recent stock split has made the stock more affordable and liquid, as it now approaches key resistance levels with bullish momentum.
Key Points:
1. The price recently took strong support at the long-term trendline, resulting in a bullish deflection
2. The 38.2% Fibonacci retracement level at 1095 also provided crucial support during the recovery
3. The stock is currently attempting a breakout above the 23.6% retracement level at 1207, which could drive it toward its lifetime high at 1389
4. At 1389, the price may form a triple top candlestick pattern, and a successful breakout beyond this level could push the stock to new all-time highs
Nestle India’s recent stock split has made the stock more affordable and liquid, as it now approaches key resistance levels with bullish momentum.
Key Points:
1. The price recently took strong support at the long-term trendline, resulting in a bullish deflection
2. The 38.2% Fibonacci retracement level at 1095 also provided crucial support during the recovery
3. The stock is currently attempting a breakout above the 23.6% retracement level at 1207, which could drive it toward its lifetime high at 1389
4. At 1389, the price may form a triple top candlestick pattern, and a successful breakout beyond this level could push the stock to new all-time highs
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.