the trend is intact
SBI CMP 799.75
Trendlines- this alteration of support becoming resistance and vise versa is an indication of a stock which is expanding. I mentioned this time and again that trendline acts like a timing tool. The stock is at the trendline and is all set to move north.
Fib- the 38.2% fib retracement is telling me the stock is in a strong bull trend.
RSI - Bouncing off from above the bull zone is telling the bull trend is intact.
Conclusion - the stock is all set to go north.
Trendlines- this alteration of support becoming resistance and vise versa is an indication of a stock which is expanding. I mentioned this time and again that trendline acts like a timing tool. The stock is at the trendline and is all set to move north.
Fib- the 38.2% fib retracement is telling me the stock is in a strong bull trend.
RSI - Bouncing off from above the bull zone is telling the bull trend is intact.
Conclusion - the stock is all set to go north.
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