RADICO: A channel of Weakness??
Updated
The chart should tell you everything you need to know about 
RADICO
However, Below are some good to know pointers:
1. After breaking the ATH Resistance, The price failed to hold above it.
2. A minor divergence in RSI on weekly TF showing weakness
3. Bearish Crossover on MACD is another negative
4. The price trades below 50 and 100 EMA on Daily TF. The price will soon be testing the 200 EMA.
5. PE ratio has worsened - same price comparative approach
5. We do have a 38.2% Fibo support around the CMP
Although, There is always a possibility of a quick rebound showing retest and continuation. A break of the channel should tell us the further course of action.
What is your take on Radico??
We are constantly trying to make our analyses better and simpler to understand.
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
RADICOHowever, Below are some good to know pointers:
1. After breaking the ATH Resistance, The price failed to hold above it.
2. A minor divergence in RSI on weekly TF showing weakness
3. Bearish Crossover on MACD is another negative
4. The price trades below 50 and 100 EMA on Daily TF. The price will soon be testing the 200 EMA.
5. PE ratio has worsened - same price comparative approach
5. We do have a 38.2% Fibo support around the CMP
Although, There is always a possibility of a quick rebound showing retest and continuation. A break of the channel should tell us the further course of action.
What is your take on Radico??
We are constantly trying to make our analyses better and simpler to understand.
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Note
Note
It is either a retest and continuation on the downside. OR A Bear trap to land back in the zone.Note
The price covered up from 10 points prior to our marked support. Missed the buy here.Note
We missed this rally
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