Waiting for stock to close above 514
There are positive crossovers at EMA (7,21) followed by EMA (7,50); Prices closing, above EMAs with increasing volumes.
Strong supports at close range of 478 and 455. RSI taking support above 40.
514, 548 (TGT1), 614 (TGT2)
478 (SL), 455
The stock has broken out from its consolidation mode and has resumed it stellar bull market rally it has been seeing since early 2014 from 100 odds! A beautiful trend following strategy can be implemented on the stock! Will take time but will surely reward in the long run!
Beautiful channel play with Kansai Nerolac. If it crosses 400 which is the first resistance, stock can fly.
Notice the hidden bullish divergence with M40ACD.
Buy above 400 with SL being Channel bottom.