Moving in a parallel Channel, the prices are showing divergence. Incidentally prices are also in a Reversal Zone based on M_PL. It seems that stock is getting ready for an up move. Buy on closing above 348 with Stop loss of recent low or as per your risk taking capacity.
Disclaimer : All stock recommendations and comments are my personnel view. please take ...
This is a follow-up to the previous idea. The action reaction lines are holding up well. The breakout today from the trading range is positive development. The volume spike is interesting too. Am long this stock and happy with the move today. Hope this continues...
The thick green lines are basic Action Reaction lines. Andrews Pitchfork is a subset of these Action-Reaction lines. Things look bullish whichever way we dice this chart. Am planning to buy at least a token quantity in this stock today !
Plan your trade & position-size judiciously !!
Price has bounced off the centre-line or the medianline of the red action-reaction set. It is apparent that the line is in sync with the price and I will not be surprised to see a rally to the top red line or the "Reaction Line". Am already long in this stock and looking to add more. Stock listed only at the Bombay Stock Exchange and not traded at NSE.
The stock has been in an uptrend for a while now. The red lines in the chart are Action-Reaction Lines. Notice how these lines have acted as support / resistance. Next destination could be the top red line at 87.50-ish.
But, for patient investors, this stock could deliver more is my guess.
After a sharp fall, price has stabilised and tried to recover some lost ground. The close above the 200-dma is a positive sign too.
The red lines represent Action-Reaction lines. Andrews Pitchfork is a subset of these Action-Reaction lines.
Price could rally to the upper red line at 680-ish.
MRF stock after a strong vertical bull run paused and it looks like ready to resume the journey again. One can go long now or on dips wherever one is comfortable with the stop loss of 49600 for target of price range 55650 - 57500. It offers good risk to reward ratio.