MARICO - raising momentum

٨ سبتمبر

My view on MARICO :
Working in categories of hair care, skin care, edible oils, immunity boosting and healthy foods, male grooming, and fabric care with a turnover of more than Billion $.

From the stock movement perspective :
On Daily time frame: Close crossed Weekly and Monthly Pivots Upside.
Close is trading above Daily, Weekly, and Monthly 20 SMA
Also Daily SMA 13 > SMA 34 > SMA 55 and close crossed above D-13 SMA.

Monthly and Weekly RSI is > 60 and also Daily RSI bounces from 40

VWMA is also moving up and Daily > Weekly > Monthly


On Hourly time frame:
- Price should take mother candle formed on 26th Aug to reach next highs
The next target will be 686
Incase if interested - take a small quantity - wait for the level to take off and add more for long term.

Finally, we see Normal NR7 today.

If the market sustains at current levels - we should see a potentially good upside based on the trend.