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PI INDUSTRIES LTD
Long

PIIND STOCK PRICE ACTION ANALYSIS

By investingedge1s
Updated
PIIND

I was expecting the price of this stock to reach the monthly demand zone. However, looking at the candles, it doesn't seem like the price will go down any further. Here are my reasons:

  1. The weekly demand zone is a strong zone because it took the price to an all-time high.
  2. The price has also broken through a monthly supply zone.
  3. The price is currently at the EMA20 support level. I always follow the EMA20 and I think the price can go up from here. It would be even better if the price reached the monthly demand zone. The supply zone above could react off the wall and come into our supply zone. Let's see what happens.
Trade closed: target reached
1st target completed,
investingedgePIINDsupply_and_demandSupply and DemandSupport and ResistanceTrend Lines
investingedge1s
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