A bullish engulfing candle has been formed on the daily time frame suggesting a good move in the upward direct is very much possible.
There is a good consolidation zone being formed and a breach of the zone(resistance) would surely give a good upward movement in this counter.
For buying the stock should be trading above the levels of 1069 and on the other hand if prices fall below 1056 we could see support areas.
Do not look at the huge red candle as that was the stock split.
Above the zone any big buying that happens will take the price up.
All the best
Your feedback is highly appreciated
There is a good consolidation zone being formed and a breach of the zone(resistance) would surely give a good upward movement in this counter.
For buying the stock should be trading above the levels of 1069 and on the other hand if prices fall below 1056 we could see support areas.
Do not look at the huge red candle as that was the stock split.
Above the zone any big buying that happens will take the price up.
All the best
Your feedback is highly appreciated
Comment:
We are back in the consolidation zone.