Consolidation or distibution
SRF CMP - 2297
The stock has been sideways for several months now. So the question is , is this consolidation or distribution?
RSI - If we look at the oscillator it has been trading in the bear range through out this phase. It is telling us things are changing.
Conclusion - since the stock is trading in a range. The downside break of the range should be taken seriously. Best is take profits off the table on the upper range of this consolidation.
The stock has been sideways for several months now. So the question is , is this consolidation or distribution?
RSI - If we look at the oscillator it has been trading in the bear range through out this phase. It is telling us things are changing.
Conclusion - since the stock is trading in a range. The downside break of the range should be taken seriously. Best is take profits off the table on the upper range of this consolidation.
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.