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Trend Line Break

Tether Dominance #USDT.D Falls on Bearish Divergence Warning#USDT.D (Tether Dominance) has recently formed a bearish divergence pattern, signaling a potential reversal in its trend. The price has lost its support and is now heading towards a retest of the 4.5% level. Bearish divergence occurs when the price forms higher highs, but the indicator (in this case, Tether Dominance) forms lower highs. This indicates a weakening of the current trend and a potential reversal. The next key level to watch is the 4.5% support level. If USDT.D breaks below this level, it could indicate a further decline in Tether dominance, potentially leading to increased volatility in the cryptocurrency market. Traders should monitor the price action closely and wait for confirmation before making any trading decisions. Factors such as market sentiment and overall market conditions should also be considered when analyzing USDT.D's movement.
CRYPTOCAP:USDT.DShort
by crypto_vulture_signals
Buy SDBL (Som Distilleries) Targets 20-30%Purchase SDBL within the price range of 250-275. Set targets at 300, 340, and 380, adjusting for the split by dividing by 5. If the price surpasses 390, the all-time high target will be adjusted to 440. Hold the investment for 3-4 months, specifically until the peak of summer. -------------------------- Company News:---------------------------------- In a post-market exchange filing on Wednesday, the liquor manufacturer announced that its Board of Directors will convene on Tuesday, April 2, 2024, to deliberate and sanction the sub-division/split of the company's existing equity shares. -------------------------- Company Overview:---------------------------------- SDBL stands out in the market due to its diverse range of alcoholic beverages, including beer, rum, brandy, vodka, and whisky. Notable brands under its umbrella include Hunter, Black Fort, Power Cool, Woodpecker, Genius, and Sunny. --------------------------Technical Analysis:-------------------------- The stock exhibits a pattern of rising during summers and cooling down in winters, indicating a potential for historical repetition. Backtesting over the last 3-4 years confirms this trend. --------------------------Fundamental Analysis:-------------------------- - Shareholding: Promoters' holdings increased from 34.5% to 34.73% as of December 2023. - Financial Performance: The company has sustained profitability over the last 2-3 quarters, with earnings averaging between 15-20 crores per quarter. Although there's a slight decline compared to June 2023, anticipating an upswing in prices following the June-July quarter results, potentially yielding returns of 20-30%. ------------------------------------------------------------------------------------------------------------ Imp. Note: This analysis is provided for informational purposes only and does not constitute a direct recommendation to buy or sell stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions, as market conditions and individual circumstances may vary. Market Risk: However, it's important to acknowledge the inherent risks associated with investing in the stock market, including but not limited to volatility, economic downturns, regulatory changes, and unforeseen events that can impact stock prices. It's crucial for investors to remain vigilant and diversify their portfolios to mitigate potential losses.
NSE:SDBLLong
by NaveenTTR
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