RADICO is currently testing a high-stakes technical corridor. After reaching a 52-week high of 3695.00, the stock has seen a significant correction and is now coiling just below its major resistance pivot.
As of today, the price is up 1.18%, closing at 2637.30. This recovery follows a recent period of downward momentum where the stock fell approximately 21% year-to-date.
Bullish Case (Above 2701.70): Trigger: A strong trade above the 2701.70 ceiling.
Target: 2810 (Previous support-turned-resistance).
Rationale: Reclaiming this level would signify a breakout from the current downtrend, supported by a strong average analyst consensus that currently holds a "Buy" or "Strong Buy" rating.
Bearish Case (Below 2672.35):
Trigger: Failure to sustain current gains, leading to a slip below the 2672.35 floor.
Target: 2585 (Testing recent local lows).
Rationale: Continued rejection at the 2700-level could lead the stock toward its 52-week low support region of 2132.05.
As of today, the price is up 1.18%, closing at 2637.30. This recovery follows a recent period of downward momentum where the stock fell approximately 21% year-to-date.
Bullish Case (Above 2701.70): Trigger: A strong trade above the 2701.70 ceiling.
Target: 2810 (Previous support-turned-resistance).
Rationale: Reclaiming this level would signify a breakout from the current downtrend, supported by a strong average analyst consensus that currently holds a "Buy" or "Strong Buy" rating.
Bearish Case (Below 2672.35):
Trigger: Failure to sustain current gains, leading to a slip below the 2672.35 floor.
Target: 2585 (Testing recent local lows).
Rationale: Continued rejection at the 2700-level could lead the stock toward its 52-week low support region of 2132.05.
Trade closed: target reached
Lower target of 2585 hit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.