PEL - Possible Turnaround Co
A stock that has been at war since the NBFC crisis..the stock has had provisions after provisions.
There are 2 key places where the stock has been taking resistance..the 200WEMA and the AVWAP of the entire down move.
If the stock price can cross 955 & 964 and those levels can become a support then we could be in for a turnaround.
Long above 955 & 964 with a 900 stoploss for failure.
The stock is also nearing a diagonal trendline breakout.
With multiple resistance levels breaking it won't be easy..but when it does breakout it could lead to a nice fast breakout upwards.
There are 2 key places where the stock has been taking resistance..the 200WEMA and the AVWAP of the entire down move.
If the stock price can cross 955 & 964 and those levels can become a support then we could be in for a turnaround.
Long above 955 & 964 with a 900 stoploss for failure.
The stock is also nearing a diagonal trendline breakout.
With multiple resistance levels breaking it won't be easy..but when it does breakout it could lead to a nice fast breakout upwards.
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