Thursday, 25 January 2018

NEXT WEEK OUTLOOK: CENTURYTEX IS IN SHORT TERM REVERSAL PHASE

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"SELL CENTURYTEX BELOW 1400 TGT 1380/1360 SL 1432"

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The Primary trend of the CENTURYTEX is bearish. Strong Support level is seen on the daily chart at 1400. it is likely to show correction with the breach of the support level of 1400, where one may initiate the short position in it for the targets of 1380/1360, while stop loss can be placed at 1432. On the other side, It is likely to continue the upside move in near term with the crossing of the resistance level of 1425. as the stock is managing to trade above its 22& 50 and 200 days moving averages with the RSI of 55.  After the breakout, the level of 1425 One may get the targets of 1435,1450 in the stock with the stop loss of 1400.
DAILY CHART FOR CENTURYTEX:

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