Zee Entertainment
Date 10.09.2024
Zee Entertainment
Timeframe : Weekly chart
Remarks :
1 Formation of descending triangle
2 Conversion line & base line merger of Ichimoku cloud
3 Once the positive crossover happens & contraction of expanded future cloud/kumo means sign of reversal
4 Gann angle will also play a pivot role as resistance/breakout after mentioned above points, when price exit descending triangle
5 23.6% would the target after price exit all above mentioned areas
6 Weekly rsi should also move above 44 to support reversal continuation
7 If breaks down neckline then no catching of falling knife or enter in reversal anticipation
8 Unstable sales & profit growth plus low operating margins are some key issues in balance sheet. Sony-zee merger would have been 180 degree reversal for entire group but unless some kind of merger deal happens with zee, reversal on balance sheet by its own business turnaround is difficult. They need outside party & cashflows to improve valuations.
Regards,
Ankur
Zee Entertainment
Timeframe : Weekly chart
Remarks :
1 Formation of descending triangle
2 Conversion line & base line merger of Ichimoku cloud
3 Once the positive crossover happens & contraction of expanded future cloud/kumo means sign of reversal
4 Gann angle will also play a pivot role as resistance/breakout after mentioned above points, when price exit descending triangle
5 23.6% would the target after price exit all above mentioned areas
6 Weekly rsi should also move above 44 to support reversal continuation
7 If breaks down neckline then no catching of falling knife or enter in reversal anticipation
8 Unstable sales & profit growth plus low operating margins are some key issues in balance sheet. Sony-zee merger would have been 180 degree reversal for entire group but unless some kind of merger deal happens with zee, reversal on balance sheet by its own business turnaround is difficult. They need outside party & cashflows to improve valuations.
Regards,
Ankur
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