QUICK AND DILIGENT ANALYSIS ON BERGER PAINTS !!!
Notable points:
1.Stock is taking support at major weekly trendline support area, also same zone is a previous resistance which turned into support now.
2.The stock is at 50% fibo support and seeing some buying interest with formation long lower wick candle at the support.
3.The stock is almost bottomed out in RSI , thus can expect a bounce from this area.
4.The stock was in a decent uptrend and did a long consolidation therefore probability of bounce from major weekly trendline support is high.
Short Term View : Bullish
Timeframe used : Daily
Target : 830-870
Takeaway : Can enter at or near by the current trendline support.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
1.Stock is taking support at major weekly trendline support area, also same zone is a previous resistance which turned into support now.
2.The stock is at 50% fibo support and seeing some buying interest with formation long lower wick candle at the support.
3.The stock is almost bottomed out in RSI , thus can expect a bounce from this area.
4.The stock was in a decent uptrend and did a long consolidation therefore probability of bounce from major weekly trendline support is high.
Short Term View : Bullish
Timeframe used : Daily
Target : 830-870
Takeaway : Can enter at or near by the current trendline support.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
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