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DCW

Discussion in 'Technical Analysis' started by myidgmc, Jan 19, 2014.

  1. myidgmc

    myidgmc Member

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    hi friends,

    i am trying to understand the W pattern.
    and drawn in blue color in chart.please correct me if i am wrong.

    Can we enter this stock with SL 9 with target of 16 for 3-6 months period?

    Thanks,
    Ram
     

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    myidgmc, Jan 19, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes you can and there was a downtrend before the W and so a W also means a break in the downtrend trend and then a break out above the W as well. So yes you are right in going long in it.
     
    shabbir, Jan 19, 2014
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  3. myidgmc

    myidgmc Member

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    Hi Shabbir,

    i have 300 DCW shares @11.50

    can i add more shares @CMP 10.50rs,As suggested i am holding with SL:9 and target 0f 16.

    Please share your view.

    Thanks.
     
    myidgmc, Jan 27, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    Sell off. I would not hold this for hitting stop loss.
     
    shabbir, Jan 27, 2014
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  5. myidgmc

    myidgmc Member

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    Hi Shabbir,

    Would like to understand the charts could you Pls explain me thru charts since suggested me to sell off this share.

    Thanks.
     
    myidgmc, Jan 28, 2014
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  6. shabbir

    shabbir Administrator Staff Member

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    From 13 to 10 in few trading sessions and so it is down slide and so never ever you should be holding stocks in down slide.

    [​IMG]

    The support of 11 was breached and higher top higher bottom formed since Nov is broken as well.

    So no reasons to be holding or adding more to it. Selling should be done in spike to expect less loss or no profit no loss.
     

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    shabbir, Jan 29, 2014
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  7. myidgmc

    myidgmc Member

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    Thanks shabbir for the explanation.
     
    myidgmc, Jan 30, 2014
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  8. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 30, 2014
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