Is Britannia Industries Ltd mature for swing now ?
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After the corona crisis in 2020, the stock has rebooted from the low of 2100 to hit its all-time high of crossing 4000 points. The stock has fined its trajectory braking the enduring resistance of 3400. Once the stock triumphs its all-time high the stock has leaned on consolidating among 3400 and 3800 points.
The stock has seen taking continuous support at 400 exponentials moving average on historical data, though the stock is below 100 and 200 exponentials moving average. Nevertheless, the stock is not in the overbought zone.
The stock has seen taking continuous support at 400 exponentials moving average on historical data, though the stock is below 100 and 200 exponentials moving average. Nevertheless, the stock is not in the overbought zone.
Nota
The stock gave an early gesture of trend reversal on 23rd July 2021 founding a green candle and followed by a strong bullish candle on a succeeding day. Meanwhile, the stock set journey from 4000 points to 3400 in the channel pattern circulating the 200 EMA throughout its consolidation stage. The stock gets backs in its path from slithering away and completes its downhill ride once it triumphs the support level of 3400.
Penafian
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