Scrip should manage to cross the crucial resistance levels marking new highs if candlestick pattern of three white soldier is completed :)
Breakout from resistance line and trendline with higher volume surge and consolidation in "Overbought* situation like seen earlier can take it to new highs
Bullish strength affirmation
1) SMA - 15 SMA is above 200 SMA...
Bulls had managed to upbeat the bears resulting in scrip moving upward channel towards greater 52-week highs after rebound
However, Day chart has shown long upper shadow which indicates that the Bears have made an impressive comeback after bulls controlled the trading game for the day!
TP short = Resistance (C) thereafter, scrip can manage to go long if breaks...
gmdc is attempting a breakout from a stiff resistance zone of 116-20 (can also see cup n handle )
rsi not givng support ! ???
good portflio stock with anticipated support from budget expected !!
can giv 50-60 % returns !
GMDC has given a triangle breakout. SL 135, TGT 6 MONTHS 210.
Disclaimer: I am a novice at charting and this chart is for educational purpose only, Views and opinions are welcome.
