Page Industries had declined sharply since April until August where the stock managed to enter into a consolidation and in the interim created a nice rounding pattern that eventually lead it to a breakout above its value resistance zone
around 21000. These zones also happen to be a gap area that has managed to halt the prices after its strong breakout seen in end September. Prices reacted from thereon to form a base at crucial supports which is also coinciding with the gap region and is 50% of the entire rise seen in the previous month. With another rounding formation potential bullish
moves are underway and we can expect the price to test levels around 23600. MACD
too has indicated a fresh buy opportunity along with RSI
rebounding from Neutral Zone. All this augurs well for the prices and we can expect some strong move in the coming days.
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