Topic Statement: Asian Paints has faced a sharp decline due to weak third-quarter results, but strong support levels suggest a potential recovery ahead.
Key Points:
1. The company reported a profit decline of 23.5% QoQ in the third quarter.
2. The stock price fell sharply, creating a gap after the earnings announcement.
3. The price is taking heavy support at the 61.8% retracement level at 2260.
4. The stock is overextended below the 180-day moving average, making it highly oversold.
5. The weekly MFI is at 22, further confirming oversold conditions.
Key Points:
1. The company reported a profit decline of 23.5% QoQ in the third quarter.
2. The stock price fell sharply, creating a gap after the earnings announcement.
3. The price is taking heavy support at the 61.8% retracement level at 2260.
4. The stock is overextended below the 180-day moving average, making it highly oversold.
5. The weekly MFI is at 22, further confirming oversold conditions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.