If it breaks 1065 go for long for swing trade. It has given high of 1065 with heavy volume on 07.12.2020. The candle has given close above 50 SMA with heavy volume .
ASTEC LIFESCIENCES - KEEP YOUR EYE ON THIS STOCK
Astec has just bounced back from an RSI of 30 on daily chart. One can long it for a first target of 1013 and a second target of 1122 or 1125. Duration about 2-3 weeks.
CMP 936 - Ready to bounce back from support and a stochastic RSI of below 30. Targets - 1,015 / 1050 (3-4 weeks) Stop loss 896
Seems to be a double bottom, lows being made 3 months apart @801-805. We will be able to confirm it if it makes a U turn northwards. Else a strong support line in the range of 800-850 waits the stock to extend necessary support when it reaches there.
The stock has been backward integrating as a strategy. Pre Covid the company had its best result in along time. There could be a revival again this quarter. Results are on 29th Oct. Technically the stock could be breaking out after consolidating for an entire quarter. Long at CMP with stoploss below 1050. Fundamentally expecting a 100% YOY growth in profits...
Astec has broken a good support last Monday big time. If it recoups in a couple of days, the early December target will be 1300, else we may see it will drift to a level of 800 in a month, where a support is there
Breakout on back of wide range candle and high volume. Also Relative strength Breakout on daily time frame.
distribution days piling up, short term correction likely.
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Very comfortably placed being well above the strongest support line and trying to break the next resistance line.Even if it continues to move in bullish manner below this resistance line, December target will be 1300