SHEELA FOAM - Price exhaustion at weekly timeframe
There is a correction expected as it touched the upper median line parallel with an exhaustion in price action in weekly time frame
#SFL
CMP 1686
Long suggested above 1715
Stop 1590
Target Open
Logic
Weekly chart
Stock witnessed a 31% correction from 52 wk high with relatively low volumes after which stock has recovered with huge volumes.
Stock also has broken out of a rectangular pattern with huge volumes post which has been consolidating with very tight contraction in price as well as...