The current consolidation occurs with in the primary uptrend. Normally we would be quite bullish on such a stock, but the current flat correction is taking too long for comfort. Earlier attempts to make a push higher have not succeeded and the lack of demand while the broader market is flirting with new highs does not match the trend phase.
With considerable scepticism and caution we look to the upside as long as 210 holds as critical support. Buying is only justifiable when the trigger at 230.90 is taken out. Target then comes in at 264.50 with 250 being intermediate resistance.
With considerable scepticism and caution we look to the upside as long as 210 holds as critical support. Buying is only justifiable when the trigger at 230.90 is taken out. Target then comes in at 264.50 with 250 being intermediate resistance.
Comment:
Raise stoploss to break-even (@230.90)
Trade closed: target reached