PEL - Return of Bears ( Bearish Gravestone Doji Candlestick)
Updated
PEL is a fundamentally weak stock with alarming PE of 380. It has been observed from the technical chart that the price action is forming lower highs with bearish candlestick patterns, indicating bears hold on every rise. Today, we have observed a bearish gravestone doji pattern after last day bullish candles, indicating the return of bears that may now take prices further down and we may observe healthy correction in the stock.
T1- 1240 T2 - 1180 SL-1360 (estimation as per spot prices)
T1- 1240 T2 - 1180 SL-1360 (estimation as per spot prices)
Trade active
Trade closed: target reached
T1 reached
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