Now that ETI stock price monthly rejected going lowerETI stock price attempt to continue downtrend after breaking the stock's all time low was finally rejected with the market full of panic sellers and hopeful buyers. Going forward, with I expect price to dip a little bit down in the coming weeks or months towards a critical zone between 6.20 and 7.00. It could possible start to rally immediately, but - that will possibly not for smart monies...
PLAN YOUR TRADES AND TRADE YOUR PLANS
Will FCMB Support zone Keep Bears at bay?In this critical bearish period on the NSE market, one of the stocks that is still "not following the general downtrend" is FCMB in the banking sector. For the past couple of weeks, 1.55 level have been rejecting any attempt for price to move the stock price below this level.
Will this level continue to keep the bears at bay or will it be violated?
A buy entry at 1.55 seems reasonable while the market continues its downtrend journey...
Will ETI rally in the coming weeks...As an update to my last post on ETI, during this past trading week, ETI price attempted to pass through its all time low, however this was rejected with the week ended in indecision candlestick.
The question is: will ETI rally in the coming weeks or what we have is a pause before bears continue the downtrend?
Risk: Major trend is downtrend and also the index is still down.
Buy Opportunity For CadburyNSENG:CADBURY
Earlier price made a lower low but the RSI(14) made a higher low, showing a bullish divergence. Price rallied up briefly but couldn't break past 18.40. Now it is bounced off the 52W Low. I expect price retest the most recent low of 7.04 or get close to it. When that happens, that would present a good long opportunity. We might see some side-upward movement but I will be setting my Take Profit at 40.00. Let's see how it plays out in the coming months.