Rebound of Eveready in sight

٢ أغسطس ٢٠١٧

Eveready Industries had a good run in 2017 till July. However, it has corrected sharply after that. Current price is close to 50% retracement of the entire run from December 2016 to July 2017. It is also near 200 EMA which might act as a support. The RSI is in deep oversold levels. I feel it is a good opportunity to buy the stock at current price with a stop loss of close below 61.8% retracement (275) and target close to previous high (350).