Today's Opening - 339
Today's High - 342
Today's Low - 331
Today's Closing - 332
Previous Day's Opening - 338
Previous Day's High - 340
Previous Day's Low - 336
Previous Day's Closing - 338
Lower closing, with decent volumes.
The 14-day Positive Directional Index is very weak while the Negative Directional Index has grown stronger.
The 2-day Relative Strength Index has been below 50% for the past two days.
The 20-day Commodity Channel Index has been below 100 for the past three days.
For the past three days, the stock is facing resistance at the 13-day Exponential Moving Average level of 340.
The 3, 10-day Moving Average Convergence Divergence has remained negative for the past five days.
The closing candle has been below the 13, 16-day Ichimoku Kinko Hyo cloud for the past five days.
The 12-day Rate Of Change has been negative since 21st December.
After running up sharply from 285 to 364 in the past two months, the stock is getting into a serious correction mode. 327 will act as the immediate support for the stock. However, might see a slight pullback over the rest of this week and the stock might try to breach the 5-day EMA level of 336.
Long-term investors should look at accumulating the stock on dips from here on.
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