MAZDOCK trade ideas
Mazdock The stock has performed as per previous given analysis and now if we see, has good support near 230-35.
Cup - handle formation - if we see on daily charts Mazdock is making cup with handle chart pattern, which is a bullish pattern. We may take position above 265 for long 280, 305 targets and stop loss near 249 which is one of the support.
Price Channel, Doji, Volume : continuation can be seen as C&H, where handle is being the price channel. It is making continuous dojis while moving downside with decreasing volumes once 262 - 65 is breached and sustained the breakout will be confirmed.
Disclaimer: these are my personal views please assure with your advisor before taking position.
MAZDOCK Mazdock moving in downward channel for now and is at upper end of the channel, it has good support of 20 DMA. As the good fundamental news broke the channel levels but it was not able to sustain the gains. Volumes is not participating in the price action, though RSI looks okay for now. Can look if channel line is broken with good volumes, above 261 a good buying interest may flow.