Multi Year Trend Support - RELAXO
The chart speaks for itself.
S1 seems like a good buying range upon a strong bounce.
If S1 breaks, S2 seems like the next best support as per Fib and Price Action as well.
RSI has reached 30 in weekly chart showing some MOS.
The PE ratio has been high due to fall in EPS this year. However, such setbacks are temporary in nature for a fundamentally strong company like Relaxo and the smart thing to do is to accumulate it at low prices and hold.
This is not an investment advice. Only for research purpose.
S1 seems like a good buying range upon a strong bounce.
If S1 breaks, S2 seems like the next best support as per Fib and Price Action as well.
RSI has reached 30 in weekly chart showing some MOS.
The PE ratio has been high due to fall in EPS this year. However, such setbacks are temporary in nature for a fundamentally strong company like Relaxo and the smart thing to do is to accumulate it at low prices and hold.
This is not an investment advice. Only for research purpose.
Penafian
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