Very Tricky Be CarefuulTrend
Overall the trend is still positive but now its been consolidating at the top for so many days I hope its not a distribution phase of this trend. We are seeing some weakness from the bulls but still there is no confirmation yet.
Chart Patterns
Well we can see a consolidation happening within a tight range and at the same time we can see price is testing higher resistance levels that is also indicating a triangle chart patter. My worry is if it breaks to the down side it will make a very big impact, panic selling will create more selling pressure and price can go lower from here. Incase if it breaks up then we are all smiling obviously.
For now its looking weaker on daily and weekly chart I think it will break to the downside and create a mess...huh!
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Qholdingstalkstock
Need Bull PowerWe saw some crazy moves in qholding , for now its taking a pause right near the strong resistance area. Last closing is not very promising we can see some sellers coming out of the bush in some volumes. At this point of time we need angry bulls to jump in are defend the territory.
Price is above 200 EMA giving us good indication its in a uptrend. But now the question is..is it time for correction?
Strong support at 3.50 and it have testing successfully with strong buying pressure, if it does not now 3.70 are then there are good chances it may revisit 3.50 and come back to break 3.77-3.80 zone.
News Effect
With the positive news hitting the market about qholding the stock price rocketed and now we expect it to sustain the gains.
If we look at the lower time frame 15 mins chart we can see side ways price action this is a good sign of relief that bulls are still active else bears would have taken control already as the price is just at the perfect place to short.
