Today's Opening - 71
Today's High - 72
Today's Low - 69
Today's Closing - 70
This is the lowest closing since 14th March, 2016. Today's trade volume is 45% higher than the previous 10 days' average.
The closing has been below the 5-day Exponential Moving Average since 13th April.
The 10-day Rate Of Change has been negative since 24th April.
The 2-day Relative Strength Index has continued to remain below 50% since 25th April. The 20-day Commodity Channel Index too has been negative since 25th April.
The Negative Directional Index has been stronger than the Positive Directional Index since 25th April.
The 12, 26-day Moving Average Convergence Divergence has been negative since 3rd May and is now getting closer to -2.
I'd mentioned in my post on 3rd Feb that this stock would go down to 100 levels. The stock has even broken the support level of 72 yesterday and is now trending to go down to 60.
BHEL has had some good news over the past three weeks. The good news has been in the form of two orders worth Rs 1,000 crore in Telangana. Also, its foray into metro rail coaches development business is another good news. Yet, these news have not revived the dropping trend of its stock price. Having lost more than 58% over the past three years, the stock looks in no mood to bounce back. Keep accumulating on dips from a long-term perspective.
If you find this post useful, you may also want to check out my latest posts on Bank of Baroda, Vedanta and Lupin.
Today's High - 72
Today's Low - 69
Today's Closing - 70
This is the lowest closing since 14th March, 2016. Today's trade volume is 45% higher than the previous 10 days' average.
The closing has been below the 5-day Exponential Moving Average since 13th April.
 |
| 90 Days Trend for 5-Day Exponential Moving Average |
The 10-day Rate Of Change has been negative since 24th April.
The 2-day Relative Strength Index has continued to remain below 50% since 25th April. The 20-day Commodity Channel Index too has been negative since 25th April.
The Negative Directional Index has been stronger than the Positive Directional Index since 25th April.
The 12, 26-day Moving Average Convergence Divergence has been negative since 3rd May and is now getting closer to -2.
I'd mentioned in my post on 3rd Feb that this stock would go down to 100 levels. The stock has even broken the support level of 72 yesterday and is now trending to go down to 60.
BHEL has had some good news over the past three weeks. The good news has been in the form of two orders worth Rs 1,000 crore in Telangana. Also, its foray into metro rail coaches development business is another good news. Yet, these news have not revived the dropping trend of its stock price. Having lost more than 58% over the past three years, the stock looks in no mood to bounce back. Keep accumulating on dips from a long-term perspective.
If you find this post useful, you may also want to check out my latest posts on Bank of Baroda, Vedanta and Lupin.
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