PEL - above 20 DMA for now!
PEL has seen a massive rally post the crash in March! Now, it is continuously trading above 20 DMA of 1425 and has a strong resistance at 1450 and then at 1500. Decisive fall below 1425 opens up shorting opportunities which can trigger a correction of 5-10%. Alternatively, decisive movement above the DMA, followed by break of hurdle at 1450, can take the stock all the way to 1500 which seems to be the intermediate top and a massive hurdle. Stock failing to break the two hurdle levels would open up shorting opportunities. However, further move has to be decided based on subsequent candles! Will update accordingly!
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.