HUDCO (NSE) long term analysis BUY
Updated
we can see the price is in a bearish move and MACD is showing a huge Divergence
the price had touched the lower bound of the bearish chancel and we can observe there is under cross in MACD line and soon we are expecting a reversal in the stocks movements
it has already broken the Ichimoko Cloud also which is again an other confluences in the bullish reversal
the first target should be the 48% level of long Fibonacci retracment
14RS can be a good stop loss and 58rs is the first Target Point
the price had touched the lower bound of the bearish chancel and we can observe there is under cross in MACD line and soon we are expecting a reversal in the stocks movements
it has already broken the Ichimoko Cloud also which is again an other confluences in the bullish reversal
the first target should be the 48% level of long Fibonacci retracment
14RS can be a good stop loss and 58rs is the first Target Point
Note
as you can see it has broken the upper band of our descending channel and it is on it bullish trend well. it may have a retrace to the previews support which is the uppe band of the same channel and then continue its rally
Trade closed: target reached
we are closing our position at 54 Rsfrom 26Rs to 54Rs
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