IPCA DAY CHART IS SHOWING A LOT OF ACCUMULATION WITH A RANGE FROM 920-1000.
AS INDICATED IN ONE OF THE PREVIOUS POST, PRICE SHOT UP TO 1000 LVLS AND THE PROFITS WERE BOOKED.
A PIN BAR SORT OF FORMATION IS OBSERVED TODAY.
THIS TIME IT MAY SHOOT UP BEYOND 1000, AS THE FUTURE CLOUDS ARE BULLISH.
- Excellent stock for entering short
- Every time the stock hits its the trend line it bounces back to its 50 DMA which lies somewhere around 770 levels
- Note dropping volume, indicating that sellers are taking the toll
- RSI is just hovering near to oversold zones
- MACD is indicating loss of momentum
V can see trgts of 800 900 in long term view
its made DOUBLE BOTTOM in monthly chart
wit sl 625
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i would probably like to go long in the counter and still feel that a some sort of strength still left in the script ... keeping in mind that a tough tough resistance at range of 685 - 695 is diificult to break!
sl 637 - 640
tgt 685, 695, 734 +++