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Discussion in 'Technical Analysis' started by myidgmc, Oct 6, 2015.

  1. myidgmc

    myidgmc Member

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    hi shabbir,

    looks like formed W pattern,Cud please confirm.

    can we enter @360 sl 350 tar 382?

    Thanks,
    Ram
     

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    myidgmc, Oct 6, 2015
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  2. shabbir

    shabbir Administrator Staff Member

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    I don't see much in this W because the fall has been an elongated one and that needs more of a consolidation than just a V, U or W.

    From Jun -Julish 2014 till Aug 2015 the stock has fallen in straight line from 800 to 300. Such a long time frame and such a fall needs time for consolidation. I would prefer to avoid this stock technically and fundamentally.
     
    shabbir, Oct 7, 2015
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  3. myidgmc

    myidgmc Member

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    Thanks for detailed explanation shabbir...
     
    myidgmc, Oct 7, 2015
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  4. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Oct 8, 2015
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