EXIDEIND trade ideas
Exide Industries Re-entering its upward trendline - BULLISH VIEWExide Industries Limited is an Indian storage battery producing company. It is the largest manufacturer of automotive and industrial lead-acid batteries in India and the fourth-largest in the world. The fundamentals of the company are great. As per technical analysis, it has been in a primary upward move since march lows and after the recent downfall, it has again re-entered into its primary upward trendline and is supported by MACD and ADX positive signals, one can have a bullish view on it.
exide industries looks super strongon the first note exide industries has broken its long term term bearish channel. stock was in 2years of bearish phase.
after breaking from its long term channel stock has made ascending triangle and now it has broken upside with good volume. this gives a confirmation that stock may rise in coming days.
my first target for short term is 205
one can hold for long term with trailing