The stock is facing some Fundamental issue but for sure the stock will bounce once they brake the down trend channel low
and it will move like a Rocket , i think the risk to reward would be very good ,
The issue with Fundamental will be ultimately resolved after the completion of the stock accumulation , so keeping an eye on this would be Good
Regards
IOB has probably bottomed out with a support at 20.50 - 22.50 ... and according to my observations technicals show a positive divergence on RSI & MACD (5/8/3) .. Stock might move up to its resistance at 32 and from there breakout possibility ...
T1 24.50
T2 26.80
T3 29.00
SL 21
Discl : its my 1st published idea so please help me with your feedback .. thanks
For a year, the stock has been trying to break out the current resistance umpteen times. Yesterday huge volumes were witnessed with a positive indication on MACD & RSI.
Buy above 29
SL - 28.35
Tgt1 - 32 ( 10 % )
Please provide your valuable feedback which would help me improve my ideas each time.
