Kabeldon

THYROCARE recently turned trend, about to test resistance zone.

Long
NSE:THYROCARE   THYROCARE TECHNOL
Hi. In this 1D chart I've plotted a few things: the recent MA 56 crossing that marked a trend turn, the approaching resistance zone from November last year and an interpretation of the movements since then as Elliott Waves .

You can also see:
  • There is still rooms for the Williams 224 to climb further.
  • The historical volatility is lower than it was in November indicating a more stable trend.
  • The Ichimoku is agreeing with the recent trend turn.
There is possibility that the MACD will turn down across its signal but I believe that it will either skirt the signal and then continue rising or pass below it momentarily as the current Elliott Correction Wave plays out.

It should be noted that the fundamentals of THYROCARE are absolutely excellent and therefore could be worth holding not only for the immediate future.

Thank you. Please if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods.

This does not constitute financial advice.
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