i have drawn the value area along with its limits and control price.
What observations can be made by analyzing each component?
The value areas. Each value area is taking shape at a price level lower than the previous. This is a clear indication of a downtrend. The control price it has a downwards slope. Another indication of a downtrend. In a downtrend, when...
Stocks are following their M patterns. Do not sell goods in any hurry. I am feeling that the stocks will soon come in the bullish trend soon.
Target- 688.10 ( 16-04-2019 Closing)
Stoploss-Stocks are at its 52-week low level, so please fix the stoploss according to your risk taking ability.
M_M did hit our earlier stop loss however gave a smart recovery from its demand zone with Open Low of 607
This is our another attempt
Buy above 623 for 643.3 , 655.5 and 666.6
Looks good for positional long term (hopefully)
Weekly Chart Shows Break Down of
Bearish Head & Shoulder Pattern
Broken Neckline of Pattern below 612
Now Going to test Support 570
Sustain below 570 will lead the Sharp fall to 540-520-485
Disclaimer: All the Recommendation/View Given in Arrowmoney are only for internal study purpose. Consult your financial adviser before making any investment decision.
M_M is showing reversal sign and demand zone. The support is crucial breaking which may cause significant fall in the stock
Buy above 630 for 646.4 , 655.5 and 666.6
Looks good for positional long term