MACD appears extremely oversold and at the same time there is a AB=CD formation on EURUSD. We may see a retracement to the neckline (of the broken H&S) which is around 1.0980-1.10, which can be a great shorting opportunity from a medium term perspective.
The current chart position augers well for favourable formation of two Harmonic patterns, both coinciding at same points and attracts investment for short term of 1 year.
Though the chances of the stock moving higher are very bright, at present it is at a strong resistance area.
So buy only above 227.
One year Target 427. (Should go even higher to 448)
Break Out Retest in Channel.
At Support.
Potential AB=CD.
Volume At Support.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
