The scrip can go either ways. If going in bearish mode, The bears can manage to retrace the scrip back to its default surge start..
Chances of bearish reversal due to:
1) %william near overbought situation and showing downward trend although yet to see confirmation
2) Evening star candlestick pattern in play
Bulls again taking control after breakout and sudden bullish surge from head and shoulder (somewhat) pattern is required to take it to newer highs
After bullish surge continuation or even accumulation beyond entry range, Bullish run expected beyond 52-week high Resistance
Support can be taken as per risk appetite
Rest in charts..
Chances of bearish reversal due to:
1) %william near overbought situation and showing downward trend although yet to see confirmation
2) Evening star candlestick pattern in play
Bulls again taking control after breakout and sudden bullish surge from head and shoulder (somewhat) pattern is required to take it to newer highs
After bullish surge continuation or even accumulation beyond entry range, Bullish run expected beyond 52-week high Resistance
Support can be taken as per risk appetite
Rest in charts..
