Trend Line Breakout, but follow up buying was missing followed by poor results today. The Stock might break down, let's see the market reaction.
The BO candle is not very strong and it requires follow-up buying to confirm the BO, although the volumes on the BUY side are greater compared to the sell side. On the weekly chart, we can see all lower levels have been bought by the market. I believe there is a strong momentum. It is at the crucial point, I can see the triple top and hence follow up buying is a...
Even this quarter results were good.
JK paper is in the stage 2 uptrend where it satisfies Mark's Minervini Criteria of 50EMA > 150EMA > 200EMA. Over-all the paper sector is doing well, for eg IPAPPM is also in the uptrend. MACD for daily and weekly is positive and RSI > 51 For fundamental details you guys can view forum.valuepickr.com I have highlghted the support level where stock can be accumulated.
I was going through this book called "Trade like a stock market wizard", I have tried to implement some concepts in this chart. Although this has not formed the proper VCP pattern but still I can see some traits of it.
Breakout and Retest, decent buying at the retest levels. Staying strong even during the blood bath.
Asian paints has broken the trendline support along with 50WEMA
Closed near the crucial support point, let's hope for the reversal
A bounce possible in the next trading session
Weekly chart shows profit booking, let's see what happens next. More profit booking for buying
The stock has reversed twice from the support, let's see what happens this time.
Technicals looks good, trading above important moving averages with possible cup and handle BO, with upcoming Horizontal BO