Apollo Pipe is currently trading at 578 that is 16% lower than its recent High which coincides with its Bonus Issue date
Almost a similar pattern was seen in APL Apollo tubes as well which fell by 25% after Bonus Issue and then made a Higher High
The share gave a strong bounce of 7% today and rose above 50 RSI
In the weekly chart as well, we find the MACD Divergence decreasing and Heiken Ashi candle turned green
I am expecting some upside here in the upcoming weeks and patience is going to be the key here.
The price may move sideways for a few days after todays impulse and I am curious to see how this plays out.
Thanks for reading!
Almost a similar pattern was seen in APL Apollo tubes as well which fell by 25% after Bonus Issue and then made a Higher High
The share gave a strong bounce of 7% today and rose above 50 RSI
In the weekly chart as well, we find the MACD Divergence decreasing and Heiken Ashi candle turned green
I am expecting some upside here in the upcoming weeks and patience is going to be the key here.
The price may move sideways for a few days after todays impulse and I am curious to see how this plays out.
Thanks for reading!