1. Expected Upper Breakout Near short-term resistance in Daily chart
2. Breakout in OBV
3. More than Daily Normal Volume in the last trading session
4. Expecting it to form Higher High Pattern in Daily Chart as it has closed above 952 from where price has seen a reversal
Long for a short-term target of 1200 in 3 - 4 days with a stop loss...
HEG weekly chart study- Bulls party over! This doesn't mean that bears are going to party.
Here is what we can deduce:
1) Parabola broken. So those who did not book profit can book completely.
2) No fresh buying.
3) No shorting until we see a close below 200 day SMA and channel breakdown.
20:33 Hrs 27th Sep 2018
HEG is an excellent stock which moved from lows at 20 in year 2000 to Highs - 4550 in 2018 - Outstanding move. Hence I have used log chart. log charts are usually used when the stock has moved by a large percentage over the considered period. Move from 20 to 4550 surely has to be checked on log scale.
As a analyst,...