Excel Industries has been in the down trend since long. Forming a downward triangular pattern and is nearing its line.
On drawing the resistance line, it currently seems to be at the support points of the triangular pattern, pivot levels and the from the chart.
Personally see this moving north since is at a 3 point support level. Expecting limited downmove and...
Excel Industries Long indications
Currently at the strong support level where it base is at 730. Expecting some Upmove after retracement.
Expecting upmove levels of 950 and 1140 in near term if it comes with volume.
Downward resistance levels breaking on the upside.
No recommendations, just my view based on charts
Huge cup and handle pattern breakout in Excel Industries with rising MACD
histogram and RSI, also it has crossed previous congestion zone with massive volume
in such a bearish market with indicates its huge buying interest.
Accumulate near breakout zone, don't hurry because market is highly volatile, I am estimating that it can soon see
levels of 1700-1800.
I see a nice large cup developing and to provide the throttle here are Inverted Head and Shoulder Patterns.
Weekly Chart - 3months to 1 year time frame.
Hi followers,
I can see amazing opportunity buildup in Excel Industries.
I am expecting good return if not amazing in coming 6 months looking at charts and as per technical analysis.
Weightage of 4-5% can be given in long term portfolios.
#JustMyViews_NotRecommendation
