Heromotocorp
HEROMOTOCORP All Set To Take Off TARGETS 3300+--> Market Analysis: Bulish
--> Sector Analysis : Neutral To Bullish
--> Stock Analysis : On The Chart
Heromotocorp Is Forming A Good Inverted Head And Shoulder Pattern And Has Retested It Multiple Times With A Retest From The 0.382 Fibonacci Ratio
Once It Crosses 200 Ema It Will Be Bullish For The Targets Of 3300+
Keep Stoploss If It Breaks 0.618 Fibonacci Ratio
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Stock Analysis of Hero MotoCorpPrice - 2847.20 Dt. - 22.09.2021
The stock was underperforming for the last few months and the stock is ready to resume the uptrend. Golden crossover is possible on the daily charts as well as weekly charts. RSI is above 50 and the auto sector has started showing the trend. Hero MotoCorp looks good for the short term.
According to the company, they have more inventories than their peers and as Diwali is near the corner, it will help them to sell more 2W than competitors.
If stock is above 2860 with good volume then it will be a buy signal.
HEROMOTOCORP - Channel BreakOut - BullishThe stock was on a downtrend, moving in a parallel channel. It gave a breakout of the channel, suggesting a reversal trend.
Trade can be taken if the stock sustains over 2800, which is a resistance zone, for targets of 2900 and 3085.
Stop Loss can be maintained at 2740.
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Watch Hero Moto on Sep 7th at 12 PMHello Everyone
Hero Moto has recently taken support from a long term trend line and 200 Simple Moving Average.
The Targets are drawn with a Flag for both Long and Short.
With Increasing volumes the stock is expected to move up but in case if it goes down then the levels are drawn.
There is a Trend Line crossover of ST Trend line to the Long Term Trend line and the time is 12 AM on 7 Sep.
Use this time to your advantage and enter the trade according to the price action at that time.
Hero Motocorp: Head and Shoulder Hero Motocorp formed a head and shoulder pattern on the daily chart. if the price gives a breakdown of the neckline then we may see a good downside move from here.
From investing point of view, the price has already corrected more than 30% from the march high that make this level a good point to add stock to the portfolio.