Heromotoco has given breakout from Flag formation after being in a range for about 2 months. With this it is likely to touch 4200-4250 levels. Stop Loss should be closing below 3750 levels.
on daily chart HEROMOTO is looking strong and it just need average results to move higher and start a new bullish trend.
For Short term (till results out) target is 3400 with SL being 3100.
If results are good, buy on every dip for the targets of 3700, 4000 accumulate up to dips of 3000.
CMP - 3348
You can see huge buying interest above the black support line.
This has a nice probability of going upwards now.
Going long.
Will exit below black and re-enter if signs of strength re-emerge.
Cheers !!
As per the multi year bollinger chart, in early 2014 price bounced off the support line (averages) and went on to reach new highs in long term.
Same scenario happened very recently and I'm very bullish with at least 3700 target in long run.
Wanted to open this one up for discussion.
Ive been monitoring this company for a while. A lot of people say go long but the technicals dont reflect what I would feel is a fair response to their reported numbers (summary is they beat market expectations).
I think I will start monitoring the market depth more closely the next few days and accumulate positions in ...
