Siemens (A consolidation before a continuation ?)
Siemens has beautifully been following its 50 EMA which is considered to be a good support zone for a trend and has reversed from it as early as 3 days back maintaining its upward trajectory. However after a long time the stock actually made a lower high instead of a higher high indicating a possible change in trend. However for now it has been negated by a reversal from the 50EMA. It will be crucial for the stock to make another higher high to negate the bearish sentiment and resume a new trend on the upward end.
On the lower side the 50 and the 200EMA are very close showing strong support for the stock. A breach of either of the red lines would lead to further continuation on the side of the breach.
Results season will drive sentiments and fundamentals will have a bigger role to play for now because of constant flux of news on the industry and companies declaring results.
Trade with Caution
On the lower side the 50 and the 200EMA are very close showing strong support for the stock. A breach of either of the red lines would lead to further continuation on the side of the breach.
Results season will drive sentiments and fundamentals will have a bigger role to play for now because of constant flux of news on the industry and companies declaring results.
Trade with Caution
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