HUL (Reversal on the Cards ?)
A continuation idea from last week. A beautiful triangle and a trend line being respected. 2100 is a crucial level which the stock held last week. So in the future any breach of 2100 might indicate a good short.
However on Friday HUL saw some good bullish momentum and also broke the trend line marked in blue however it could not close beyond it. It will be interesting to see whether the stock breaches it tomorrow and continues it journey upwards or reverses towards the lower line of the triangle.
The 2100 level is also supported by the 200EMA so any breach as mentioned which be a breach of an important area, a consolidation and a long term EMA indicating a bearish trend.
Keep an Eye it should be interesting.
However on Friday HUL saw some good bullish momentum and also broke the trend line marked in blue however it could not close beyond it. It will be interesting to see whether the stock breaches it tomorrow and continues it journey upwards or reverses towards the lower line of the triangle.
The 2100 level is also supported by the 200EMA so any breach as mentioned which be a breach of an important area, a consolidation and a long term EMA indicating a bearish trend.
Keep an Eye it should be interesting.
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