Limited upside - Good short-term buy
Stock has posted fresh 52-weeks high of 3020 on 19th Oct 21. Later stock has moved into natural retracement phase as confirmed by an overbought RSI on monthly chart. Now, stock RSI has entered into an oversold zone on daily chart. Therefore, we have limited opportunity of an upside.
Nota
Stock has continued its downtrend. Currently, it is within oversold zone on daily candlestick chart. However, it is slightly below overbought on monthly candlestick chart. Thus, anticipated pullback has limited upside.
Penafian
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