Divergence at MACD PNB LONG

Oct 18, 2016

The stock is at a good support area. MACD indicator is showing divergence. Although it is making lower high and seems to be in downtrend one can enter long here with small Stop loss and look for a target of 141. Very good risk to reward ratio.

Oct 18, 2016

Trade closed: target reached

I've closed the 80% of my position on the target area booking decent profit, rest would continue with the trailing stop loss.