BERGER PAINTS after forming a possible triple top has made an inside bar below the support level.
MACD bearish crossover too.
Can go short below the level for a good profit.
Levels are mentioned in the charts .
The stock seems to have given a confirmed monthly break out from a good range of consolidation that it was under from the past few years! With a good trailing candle, more strength can be seen coming however since the time frame is monthly, it might take some time in the due process!
I covered this stock on 12th May. Price has broken out and price is holding above the breakout zone so far. Please note that the stock is in strong bullish market. Chart is also forming an Ascending Triangle pattern which is a bullish assertion. Moreover, it belongs to consumption industry segment which is doing good business. (See Asian Paints). It can fetch...
Price hitting the Resistance level repeatedly for more than one-and-half years. This is a very significant 'process' of price discovery for investment. It may take time but once price makes the expected breakout, it will be rewarding the investor handsomely. The stock is in strong bull market. And this process of facing resistance is often an essential part of...
Price has broken out of a trading range with a volume spike. Pay attention to the expansion in the Bollinger Bands. Interesting stock again. Watch out !!
