What’s happening in Page Industries (PAGEIND)
September 4, 2024
PAGEIND was in downtrend since October 2022.
It seems to have completed a double correction by March 2024. After the correction, the price has been in uptrend.
Evaluating the uptrend from March 2024 to September 2024 shows an impulse character. However, the impulse could not cross the 50% Fib retraction. Right now, the stock has completed the impulse and seems to be in correction. It has completed the A and B waves, and is now in C wave of correction.
After the correction is over, the stock should move upward. However, on the monthly chart, at 50% Fib level, we can see KS of Ichimoku acting as resistance.
For an upside move, the price has to close above the 50% Fib level and KS resistance. After crossing these hurdles, there is a higher probability of the stock moving upward.
At present, we need to wait for the stock to close above the 50% Fib level and KS resistance to form a positive outlook and expect an uptrend.
Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
PAGEIND was in downtrend since October 2022.
It seems to have completed a double correction by March 2024. After the correction, the price has been in uptrend.
Evaluating the uptrend from March 2024 to September 2024 shows an impulse character. However, the impulse could not cross the 50% Fib retraction. Right now, the stock has completed the impulse and seems to be in correction. It has completed the A and B waves, and is now in C wave of correction.
After the correction is over, the stock should move upward. However, on the monthly chart, at 50% Fib level, we can see KS of Ichimoku acting as resistance.
For an upside move, the price has to close above the 50% Fib level and KS resistance. After crossing these hurdles, there is a higher probability of the stock moving upward.
At present, we need to wait for the stock to close above the 50% Fib level and KS resistance to form a positive outlook and expect an uptrend.
Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Disclaimer
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