Nestle has formed strong bearish pattern on weekly chart which is sign of sellers are gaining control of trend. If Nestle breaks the 10600 levels then it can reach to 10000-9800 levels which 200 EMA support.
Double Top, Channel Top, Negative Divergence, Supreme Court and Circuit breaker.
On third Jan 19 'News' was splashed in the mainstream media about the concern of SC about Maggi Noodles having harmful level of lead and the SC lashed out at the govt. On 4.1.19 price hits the Circuit breaker. 'They' made big money. 'They' took big short trades before they spread the...
The stock has formed a 3 Drive on Top reversal pattern at the 78.6 fib level of last swing. RSI is not supporting the 3rd top and showing divergence. It has came back to Bollinger Band so it seems to be a good short trading is possible here. One can shot below the 10890 with small SL of recent made high and expect the target of 10500/10100.
Disclaimer : All...
Daily chart. Divergence play. Price came down on negative divergence. Now positive divergence is triggered and price is also being supported by 200 DMA. If market remains favorable, target can be 10500+.
