Not a prediction rather an observation.
The market is building up after it tested the lower band of the Bollinger band during the downtrend, and the MACD histogram is reaching 0.
The company has a rather healthy financial statement for the month of May for it to be in downtrend.
Buy on yesterday hammer.
Today price break below the yesterday low.
How to positioning yourself?
When stock break the low point, sell your stock .. if it bounce back above the low .. buy back again. (Spring strategy)
You can wait for end of the day just decide, but the price may continue to going way lower. Therefore it is preferable to cut now and buy back later.
Greetings
Humbled, we would like to thanks for your support who has already liked, commented and followed us. Your support, strengthens us, to help in analyzing the market. If you have any questions, do not be hesitant to send us message (inbox). Our Service : Signal recomendation, Trading Course, Portofolio Consultation for multi asset such as Stock, FX,...
No sign for continuation movement to the upside at the moment.
Earlier post:
Disclaimer: Our content is intended to be used and must be used for technical analysis education purposes only.
We noticed TCS has made a significant breakout above a downtrend channel which could be a bullish Measured Move formation. Hence, the next movement to the upside could be duplication the first leg (AB) to point D, coincide Fibonacci level 2.618 at 0.73. On the flipside, a price movement below S1 at 0.50 will negate this Bullish outlook.
Earlier...
Tcs Analysis:
1- Fresh breakout, just break 52 weeks high and the Darvas Box with sufficient volumes.
2- Price above 20 SMA and 50 SMA, showing an uptrend in Stage 2.
Entry:
1- Can enter now for breakout trader.
2- Can enter when price rebound on 20 SMA or 50 SMA for conservative trader.
Exit:
1- Price fall below 20 SMA and 50 SMA.
2- 20 SMA fall below 50 SMA
