ONGC - Rounding Bottom, Flag, Hidden Divergence Long

BSE:ONGC1W

OIL AND NATURAL GAS CORPORATIOBSE

Description

⋅ Apr 23, 2017 2:48 PM

ONGC has formed a rounding bottom with a flag.
Notice the hidden divergence.

Seems to be a good medium term buy.

Trade active

⋅ Apr 28, 2017 5:35 AM

RSI and MACD turn around in daily charts

Trade active

⋅ Apr 28, 2017 10:18 AM

Stock is up 4 % today

Comments

shaqqs

⋅ Apr 24, 2017 11:06 AM

expecting down trend of a while on this one.

eyesice

⋅ Apr 24, 2017 3:30 PM

@shaqqs, true. Let's wait and watch

naveenkumar3000

⋅ Apr 23, 2017 3:11 PM

Shouldnt we wait for MACD cross over to initiate a buy ? Apologies for my question in case you find it silly.. i have just started learning TA

eyesice

⋅ Apr 23, 2017 5:43 PM

@naveenkumar3000, We should always wait for the candle to breakout from the flag. Hopefully the MACD should crossover when that happens. Set a Tight SL and hold