TATA STEEL APPROACHING TO ITS CRUCIAL RESISTANCE
After split the stock has rallied, almost 12% which now has put the prices at resistance zone (106-110) which was acted as a strong support.
The zone is around 106 - 110
-------------------👎🏻👎🏻👎🏻
Some bad about this stock
1) prices trading below 200 day moving average.
2) Price corrected recently 45% which is huge.
3) The volatile metal prices, making business projections , dismal.
4) On chart we are seeing that it is trading below 110 level which was support earlier.
+++++++++++++👍🏻👍🏻👍🏻
Some Good about this stock
1) Stock prices has shown a big rally recently
2) Overall market sentiments shifted slightly bullish , as after expected FED policy.
3) Metal sector overall on chart is bullish in short term.
4) RSI crossed 70 on daily chart , many will argue at this point that it is overbought case, but I don't think so.
5) Quarterly results were average.
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Conclusion : Stock will be bullish above breakout of resistance zone , so plan accordingly.
👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
Comment below if you want to add or correct anything.
The zone is around 106 - 110
-------------------👎🏻👎🏻👎🏻
Some bad about this stock
1) prices trading below 200 day moving average.
2) Price corrected recently 45% which is huge.
3) The volatile metal prices, making business projections , dismal.
4) On chart we are seeing that it is trading below 110 level which was support earlier.
+++++++++++++👍🏻👍🏻👍🏻
Some Good about this stock
1) Stock prices has shown a big rally recently
2) Overall market sentiments shifted slightly bullish , as after expected FED policy.
3) Metal sector overall on chart is bullish in short term.
4) RSI crossed 70 on daily chart , many will argue at this point that it is overbought case, but I don't think so.
5) Quarterly results were average.
=============
Conclusion : Stock will be bullish above breakout of resistance zone , so plan accordingly.
👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
Comment below if you want to add or correct anything.
Nota
ALL EYES ARE ON 110 LEVELNota
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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.