“W” – Double Bottom Formation
On the daily chart, the stock has confirmed “W” – double bottom formation on a closing basis indicating strong come back of bulls
The stock has recaptured its 20 , 50 and 100 day SMA and rebounded very sharply
Huge volumes near support zone implies increased participation at lower levels
The daily “band bollinger” buy signal reconfirm positive bias
The daily and weekly strength indicator RSI signals positive crossover indicate rising strength
The above analysis indicate upside of 765-785 levels. *Holding period is 3 to 4 weeks.
The stock has recaptured its 20 , 50 and 100 day SMA and rebounded very sharply
Huge volumes near support zone implies increased participation at lower levels
The daily “band bollinger” buy signal reconfirm positive bias
The daily and weekly strength indicator RSI signals positive crossover indicate rising strength
The above analysis indicate upside of 765-785 levels. *Holding period is 3 to 4 weeks.
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