stock is in uptrend
there was a minor pull back towards channel support
broke the channel on down side but back in swiftly and locked inside the trend
so we can expect a rally towards channel resistance
tgts are channel resistance
Technical indicator shows exhaustion of the Wave pattern. This is confirmed by the divergence shown between MACD and price indicator. Relative strength of the chart is also showing weakness. The volumes also have remained relatively flat with slight downward slope. All this confirms that the stock is a good candidate for shorting. Will confirm with the daily...
It is been observed that the price action forming a Head and Shoulder pattern on the upside, indicating further bearishness in the price action. It is also important to note that the price action changes from making Higher Low and Higher High to making lower highs and Lower Lows, again signalling bearishness. Good time to short.
1. There is a strong resistance zone.
2. In past Price has reversed from this zone.
3. Even though the price has broken this zone the voulume is negative that shows the sentiment among traders in the market is bearish. There is a high possiblity of price reaching to 1st Target at 331 and then the 2nd target at 308.
4.Price at Point B on the chart is higher...