Long PersistentNSE:PERSISTENT already had broken the trend line was bringing it down and now it's also trading above its resistance, Long can be initiated from here for the target of 625-650
PERSISTENT trade ideas
Persistent 612 in a descending triangle,expect 386 points movePersistent 612 is currently trading in a descending triangle, actually it is a continuation pattern, but bearish where ever it forms. The base Hight is approx. : 386. Hence on down side as per the pattern, a target expected is 226. Whereas an upside break out will take the stock to new high.
Investment Idea- Persistent Weekly chartPersistent system today hit 52week low and also it closes @important support level and looking good at this level.
Fundamentally a very good company.
one can start investing in persistent from here 25%-25%.......
Approaching key supports!! Will it sustain?Persistent seem to be in a range bound since mid 2015 and the recent decline is approaching key supports around 580 levels. With the declining weekly RSI trend intact, the stock might find it difficult to sustain on the current test. Failure to hold above 580 could start a strong downside move towards 490 and 460 levels. On the other hand, strong evidence of buying above 580 could negate the downside potential and rebound more strongly towards 700 levels. Watch out!!
opportunity for long @ PERSISTENT SYSTEMS Look to go Long @ 592 with stop loss @ 572 for targeting @ 633.45 . This trade setup is based on weekly supports and fading down word momentum in 4 hrs MACD histograms .....trail stops at COST TO COST after MACD line crosses above zero line in 4 hrs time frame.
