tweezer bottom in weekly..bouncing off cloud..respecting weekly channel..good volumes in D..bouncing off 233 MA in Daily...everything points to a up move
Fineorganic recently made All time high and is again at the breakout level for retest. It tested the MA twice and third time also it is testing it. Volume have increased considerably since it made Life high. Relative strength is also in +ve zone. One can go long with SL of recent swing low.
Inside Weekly Bar Formation - Week A volatility is 10%, Week B Volatility drops to 5.2% and Finally Week C is 3.6%. The stock went tighter in terms of movement meaning there were very limited sellers in the stock. All bars were inside the body of the previous one
SHORT TERM POSITIONAL PICK (2-4 Months) Looking at price right now it is consolidating and possibly breakout from the box will take it to 1650/1750/1850. Wait for confirmation on daily level for few days before taking position. OVER ALL TREND SO FAR IS UP.
A recently popular stock which has been running up in a channel is at a key channel support. Its still bullish but below the channel and black line it too could take the path of correction.
Ideally would like to see it bounce..
Lets see how it goes over the next couple days. #watchlist
