Returned from 4/1, crossed 3/1 next short term target 745 with minor resistance at 715
Rebounded from 8/1 support, broke descending angle pattern, crossed 4/1. May go above 400 on monday.
May visit a low level of 615-630 and the uptrend will start
If the stock is able to close above 348 today and in short term crosses 378, bullishness may return. Presently left steep 1/3 descending line and in the process of consolidation.
The only solace is that the 8/1 line is not broken
Unless bullishness returns, the stock is expected to go lower to 112-118 in near term for further up move, if any.
Next resistance levels are 50.95, 57.85, 65.75 and finally at 77 it will come out of bearish shadow.
As was speculated bullishness returned in the counter. If for the next two days it hits circuit, the stock will cross the resistance at ~159.50.
My take on Graphite: Graphite is expected to reach a level of 1300 by December 2018, depending on its fundamentals. However I don't advise to hold on the stock on the basis of my assumption. Further, please watch out for the level of 905 is not broken in short term.
For two consecutive days HEG (8X chart) stayed above 1/1 ascending line formed over a period of 400 days. My target for HEG is 8000 by December 2018, if fundamentals meet the expectations. Watch out that level 3425 is not broken in short term.
The next 1/8 resistance is far away at 900+.
How the stocks have performed over a period of 393 days.
The last support exists at 161. We hope it is held and stock reverses from this support.
I hope today HEG can close in UC and crosses 3627 conclusively.
If it manages to close above 895 and hold for some time, we may see even a level of 1300+ in near term.
Watch out for tomorrow's closing above 893.15 for crossing of 1/2 resistance line for steep up move in medium term.