Stock is trading in lower high lower low formation
since Sept16
Last week stock closed with bullish engulf
forming higher low on weekly chart
Going forward till 410-416 holds which is 20WMA
stock will try to move towards 442-450 which is
50WMA.
Once stock close above 450-452 on weekly basis
will move higher towards 470-472
Close above 472-475 will confirm higher high and
negate its downtrend
In case 410-416 is taken out price will again retest recent lows
Buy and hold with 410 stop loss for higher targets
Accumulate in range 422-430
Wealth accumulators stop loss 385 accumulate in range 415-430
since Sept16
Last week stock closed with bullish engulf
forming higher low on weekly chart
Going forward till 410-416 holds which is 20WMA
stock will try to move towards 442-450 which is
50WMA.
Once stock close above 450-452 on weekly basis
will move higher towards 470-472
Close above 472-475 will confirm higher high and
negate its downtrend
In case 410-416 is taken out price will again retest recent lows
Buy and hold with 410 stop loss for higher targets
Accumulate in range 422-430
Wealth accumulators stop loss 385 accumulate in range 415-430