Is HEG ripe for fresh entry? Wise investors entered today at 4110.
But with the bumper quarterly result the channel will not be able to contain it. Time has come to revise the target price to 6000 in medium term.
Business as usual. Support at 3865. Should hold.
Support range: 3850-3900, medium term target 5500.
Just an education assumption drawn based on my pattern understanding. Should probably hit around 3900 levels before taking a dip.
For two consecutive days HEG (8X chart) stayed above 1/1 ascending line formed over a period of 400 days. My target for HEG is 8000 by December 2018, if fundamentals meet the expectations. Watch out that level 3425 is not broken in short term.
I hope today HEG can close in UC and crosses 3627 conclusively.
In this run up next resistance is seen at 3786.
Toady it should cross above 3260, a resistance seen.
HEG limited shown good strength in today super bearish market too. Today HEG retraced from demand zone which is also Fibonacci 50% level making that level as strong support. And price continued its upward movement till 1.382 level and retraced sharply. Thus creating a new demand point around 3140. As the trend continues! We can expect HEG to be in 3400 in next few days.
HEG BO from cup and handle formation with tgt 1 - 450 rest tgt later