#GULFOILLUB WEEKLY CHART VIEW!!
Gulf Oil Lubricants India Ltd. is consolidating in an Ascending Triangle pattern in the weekly chart.
It recently bounced from the lower line of the pattern.
Probable resistance comes at 690-705 zone.
Closing above 705 level may lead to further strength in the medium term.
Keep a watch.
Gulf Oil Lubricants India Ltd. consolidating in a symmetrical triangle pattern in the weekly chart and likely to see breakout only above swing high of 690.
Technical parameters looks neutral as of now.
Probable resistance post breakout comes at 717 and then at 735 respectively.
Keep a watch.
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Gulf Oil Lubricants - Daily - Trendline - Support - Resistance
1. Out of long term trendline. Seems to be in downtrend.
2. Moving average crossover (Death cross ==> 200 EMA vs 150 EMA).
3. 689 seems to be a good support for short term.
Add this stock to your watch list. Could be potentially rewarding going ahead.
Hasn't broken out but very low free float so a breakout could be powerful.
