Surprised that there are some fundamentally bad news in this stock. Market knows better.... and it is heading to 2 digit... Hoping to accumulate more there and average... 1st Touch down level is 124.... 2nd is 100 .... 3rd is 82... !
The stock is about to make a Kumo Break out - Should sustain the closing and also on retest which is a possibility.
The Chikou span is also making an attempt to get free.
The set up looks good. One can buy or wait for a re test and then buy... Above that is blue sky.
Edelweiss is going up in wave 5 which should peak somewhere between 380 and 480 and then correct in wave (4) down to 250s. The longterm count is bullish. It's kind of buy and forget stock technically.
The stock has seen sharp spike recently, pushing ADX past the 25-mark. This suggests strong uptrend in force. The recent rally has however pushed the price to short-term overbought position. Use any pull back method and stop loss method to consider long trades on weakness.
Fibs, MA or anything else is fine to spot potential support zones.
