RADICO: A channel of Weakness??The chart should tell you everything you need to know about NSE:RADICO
However, Below are some good to know pointers:
1. After breaking the ATH Resistance, The price failed to hold above it.
2. A minor divergence in RSI on weekly TF showing weakness
3. Bearish Crossover on MACD is another negative
4. The price trades below 50 and 100 EMA on Daily TF. The price will soon be testing the 200 EMA.
5. PE ratio has worsened - same price comparative approach
5. We do have a 38.2% Fibo support around the CMP
Although, There is always a possibility of a quick rebound showing retest and continuation. A break of the channel should tell us the further course of action.
What is your take on Radico??
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