Hikal Ltd fell 25% on Sep 18 on 10000% volume more than Average Monthly Volume. Generally, such moves are climax top in stock. The stock may drift sideways for months before witnessing a huge fall after the climax top, It pays to be cautious in such scenarios.
A volatile stock but looks like a retest of support will happen.. market is edgy so please trade with care
Disclaimer: not an trading/ investing recommendation.
Do your own Analysis
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Hikal: With the up move on Friday the stock has come out of the bearish shadow. 8/1 angle support ( long period) is at 159 which is expected to hold. With an interim resistance at 176, it should find a level of 185 in short/ medium term.
- The stock was consolidating beautifully in the channel for six months now breakout is given with good volume buildup
- Now Flag breakout is given which is also Channel breakout with good volume buildup.
- Do your own analysis
Schiff pitchfork median line testing
Weekly support S1 marks the short term downside limit
Bullish Reciprocal ABCD has completed formation
Upside to be effected from the bullish RABCD and the ML to ML swing in the pitchfork...
Upside to be halted in pivot region where there can be further volatility and is considered as a safe take profit zone, and then upside...