Tuesday, May 2, 2017

STOCK FUTURE TRADING TIP FOR 03 MAY 2017


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.
 DAILY CHART FOR ZEEL:



No comments:

Post a Comment