INDUS - overbought at the resistance
Updated
What we can see on the chart is that the price of the stock is overbought.
The price is above the upper Bollinger Band, and also the stochastic shows us overbought conditions (above 80).
The price currently is at the resistance, therefore it would be the entry for the short position. Stop loss and target are shown on the chart.
The price is above the upper Bollinger Band, and also the stochastic shows us overbought conditions (above 80).
The price currently is at the resistance, therefore it would be the entry for the short position. Stop loss and target are shown on the chart.
Note
Resistance is acting as it should. Trading idea still valid
💥 Free signals and ideas ➡ t.me/vfinvestment
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.