Topic Statement:
TCS has seen a sharp correction in recent months, with the stock finding support at the 3500 level while trading below the 180-day EMA, indicating oversold conditions, further confirmed by a highly oversold weekly MFI.
Key points:
- Stock takes support at the 38.2% retracement level
- Price is below the 180-day EMA, marking it as oversold
- Weekly MFI is at 18, indicating the stock is highly oversold
TCS has seen a sharp correction in recent months, with the stock finding support at the 3500 level while trading below the 180-day EMA, indicating oversold conditions, further confirmed by a highly oversold weekly MFI.
Key points:
- Stock takes support at the 38.2% retracement level
- Price is below the 180-day EMA, marking it as oversold
- Weekly MFI is at 18, indicating the stock is highly oversold
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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.