Friday, 2 February 2018

NEXT WEEK OUTLOOK: CENTURYTEX WILL CONTINUOUS THE DOWN TREND

"SELL CENTURYTEX BELOW 1300 TGT 1250/1200 SL 1350"
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The Primary trend of the CENTURYTEX is bearish. Strong Support level is seen on the daily chart at 1250 (as 200 EMA). it is likely to show correction with the breach of the support level of 1250, where one may initiate the short position in it for the targets of 1200/1180, while stop loss can be placed at 1350. On the other side, It is likely to continue the upside move in near term with the crossing of the resistance level of 1350. as the stock is managing to trade above its 22& 50 and 200 days moving averages with the RSI of 50.  After the breakout, the level of 1350. One may get the targets of 1380,1450 in the stock with the stop loss of 1300.
DAILY CHART FOR CENTURYTEX:

1 comment:

  1. Thanks for sharing your research with us.

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