LICHSGFIN

14 мая 2022 г.

This stock has aligned all sentiments in multiple time frames which are good enough to forecast next moves, and it indicates bearishness ahead.
Price trading below support line and also below major EMAs like 200ema, 100ema, and 50ema on Daily time frame.
Wave structure is also suggesting more correction ahead, after good up rally and high of june 2021, it started correction, which had formed Leading diagonal structure in wave A as a correction in month of April 2022, and after that wave B completed, Now possibly wave C is unfolding, Also this stock has seen a sharp correction without any major pullback, so in near term some pullbacks are also due which cannot be ruled out. 367 and 397 are major resistance on the way up to watchout, and in the short to medium term, the stock can possibly head south towards price levels of 235.
One can go short at these levels or on Rise of price (if any).

Overall wave structure is looking like this


Price trading below support line and also below major EMAs like 200ema, 100ema, and 50ema on Daily time frame.


RK's indicator confirms at big levels Monthly and weekly charts


RK's indicator confirms at big levels Daily and Hourly charts


Price trading below 20SMA (Mid. bollinger) on monthly chart.


Price closed below Lower bollinger on weekly chart, it indicates good strenght of bear power.


Price also closed below Lower bollinger on daily chart, it indicates good strenght of bear power.


macd in weekly bearish


macd in daily bearish


rsi in weekly down tick and now below 40.


rsi in daily negative


dmi adx is also negative


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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.