DCX systems showing early signs of retracement.
Today's stock for analysis is DCXINDIA.
This stock was recently listed nearly 50% premium over the IPO issue price of 207. Since its listing, the stock is in continuous downtrend as seen on chart.
However, from past few days, we can see a retracement coming from levels of 150 in the stock. RSI positive divergence is also visible.
175-178 is a strong supply zone above which the stock can move quickly towards 193-195 levels which is its 38.2% retracement of downtrend.
Study the chart and kindly trade as per your own analysis.
This stock was recently listed nearly 50% premium over the IPO issue price of 207. Since its listing, the stock is in continuous downtrend as seen on chart.
However, from past few days, we can see a retracement coming from levels of 150 in the stock. RSI positive divergence is also visible.
175-178 is a strong supply zone above which the stock can move quickly towards 193-195 levels which is its 38.2% retracement of downtrend.
Study the chart and kindly trade as per your own analysis.
Comment:
As explained- above 175 , the stock raced towards 194.85
Comment:
227 from 175
Comment:
238 from 175!
250 will act as a major resistance
250 will act as a major resistance
Comment:
V shape recovery.
No big retracements at all.
290 from 175!
No big retracements at all.
290 from 175!