JKCEMENT, a leading cement manufacturer, has been trading on the National Stock Exchange (NSE) at a current market price (CMP) of Rs. 4310.
After a recent pullback from its 50-day long candle midpoint of Rs. 4200, the stock is showing signs of a potential rebound. Technical Analysis The stock's recent price action has been characterized by a bounce back from the 50-day long candle midpoint, indicating a potential reversal in trend.
The Linear Regression Channel (LRC) indicator, which plots the stock's price movements against its volume, is also showing signs of expansion in the upward direction. This suggests that the stock's upward momentum is likely to continue.
Long Candle Midpoint The Long Candle Midpoint (LCM) indicator, which plots the midpoint of a long candle, is also indicating a potential rebound. The LCM is plotted at the midpoint of the long candle, which is calculated based on the stock's price movements over a specified period. In this case, the LCM is plotted at Rs. 4200, which is the midpoint of the long candle that formed earlier.
Conclusion Based on the technical analysis, JKCEMENT appears to be a potential rebound play. The stock's recent price action has been characterized by a bounce back from the 50-day long candle midpoint, and the LRC indicator is showing signs of expansion in the upward direction. Additionally, the LCM indicator is also indicating a potential rebound. Therefore, investors may consider taking a long position in the stock, with a stop loss at Rs. 4200 and a target price of Rs. 4500.
Disclaimer This blog post is for informational purposes only and should not be considered as investment advice. It is essential to do your own research and consult with a financial advisor before making any investment decisions.
After a recent pullback from its 50-day long candle midpoint of Rs. 4200, the stock is showing signs of a potential rebound. Technical Analysis The stock's recent price action has been characterized by a bounce back from the 50-day long candle midpoint, indicating a potential reversal in trend.
The Linear Regression Channel (LRC) indicator, which plots the stock's price movements against its volume, is also showing signs of expansion in the upward direction. This suggests that the stock's upward momentum is likely to continue.
Long Candle Midpoint The Long Candle Midpoint (LCM) indicator, which plots the midpoint of a long candle, is also indicating a potential rebound. The LCM is plotted at the midpoint of the long candle, which is calculated based on the stock's price movements over a specified period. In this case, the LCM is plotted at Rs. 4200, which is the midpoint of the long candle that formed earlier.
Conclusion Based on the technical analysis, JKCEMENT appears to be a potential rebound play. The stock's recent price action has been characterized by a bounce back from the 50-day long candle midpoint, and the LRC indicator is showing signs of expansion in the upward direction. Additionally, the LCM indicator is also indicating a potential rebound. Therefore, investors may consider taking a long position in the stock, with a stop loss at Rs. 4200 and a target price of Rs. 4500.
Disclaimer This blog post is for informational purposes only and should not be considered as investment advice. It is essential to do your own research and consult with a financial advisor before making any investment decisions.
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.
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.