. The stock has to maintain itself above 55 levels, if it holds

10 ene 2020

The stock has been trading with strength since last few sessions. It has been above to maintain above the support levels. An inverse head & shoulder pattern is visible on the daily chart. The breakout took place in the last session. The stock has to maintain itself above 55 levels, if it holds the levels then we may witness emergence of a fresh bull run in it. A minor resistance is placed at 60-62 levels, above which the sky is open for the stock till 76 levels. Below 55 levels it may resume downtrend ok keep trading sideways. The RSI is maintain well above 50 levels from last few weeks and MACD has moved into bullish zone as well. Buying at dips till 55 is suggested.