BUY ZEEL ABOVE 540 tgt 550/565 sl 525
The Double Bottom Reversal is a bullish reversal pattern found on candlestick
charts. the pattern is made up of two consecutive troughs that are roughly
equal, with a moderate peak in-between. Note
that a Double Bottom Reversal on chart is completely different from Double
Bottom Breakdown on chart. Double Bottom
Breakdowns on charts are bearish patterns that mark a downside support break.
The Primary trend of the ZEEL is bullish
and after giving breakout of its MONTHLY PIVORT POINT range bound movement, it
is forming continuation pattern in short term charts, it is likely to continue
the positive movement with the breakout of the pattern at the levels of 540 ;
as the stock is managing to trade above its 22 and 55& 200 days moving
averages with the RSI of 55, one may expect the targets of 550/565 in the
stock if it manages to sustain above the immediate support level of 530.first
resistance level seen on charts at 550.
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