KAYA Ltd - LONG [Healthy retracement and correction]
KAYA Technical Analysis:
Stock retraced 50% on FibRetracement
ABC correction wave (possibly) completed
EMA 50 support (Daily)
RSI looks healthy in the 40-60 zone
Stock hitting upper circuit today (22 August 2024)
Immediate resistance: 573 to 575
Next Target: 796 [Possible retest at 575 levels]
Company News:
- Collaboration with consumer goods maker Marico which will exclusively handle sales and marketing of Kaya's products (source: Reuters)
- Positive outlook: New Investor, New CXO appointments, stakes in ME sold and complete focus on the Indian market now (Various sources)
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