Last Price@284.55 In 2008- Fresenius SE & Co- A german healthcare bought a 76.2 % stake in Dabur when it was trading between 60-80 zone since then Dabur never looked down & its almost 8 years have passed- & Dabur has kissed highs@320. What Next Dabur's upward pace could slow down in current scenario because momentum indicator-MACD hasn't made a new high where...
Dabur should take resistance near 285-287 region in coming days. Short on rise
it is simple trendline theory.it states that once a trendline is penetrated,the trend which was previously in force is reversed
Formation looks like an expanded flat for Dabur. The final corrective wave C is o=in the formation with the completio of wave 1. The correction is expected to pull the price to around 200 levels in the long term. First target can be around 250 ~ 230 levels.
Dabur has given a breakout of the declining trend line today. The 13 day EMA Force Index has also crossed over to positive territory supporting the breakout above. Volumes are a little low though, but good changes of it retesting its previous highs of 320.