This is the analysis of SOMICONVEY in Weekly Time Frame. Watch carefully. The chart explains itself. The stock managed to break the long term resistance with increasing volume. It can retest the breakout level. If it will sustain above the breakout level, it is good for the stock. Generally Multiyear Breakout is a bullish signal for stocks. There are some...
Hello Friends, Here we had shared possible Elliott wave counts on SOMI CONVEYOR BELT in which wave structure is clearly indicating impulse up move ahead, along with cup and handle chart pattern breakout, which is itself a fresh bullish signal. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor...
Somi Conveyor came down sharply from 86 to 36, without any respite. However, it today tested very important support leve of 36-37 zone which was created excatly 2 yrs back. I guess its good time to enter for 30-35% jump. Positional stop can be below 35.1