Today's Opening - 1291
Today's High - 1299
Today's Low - 1276
Today's Closing - 1281
Lowest closing since 2nd May, 2014 with low volumes for more than a month now.
The 2-day Relative Strength Index has continued to be below 50% since 21st Oct.
The 12, 26-day Moving Average Convergence Divergence has remained negative since 23rd Oct.
The 10-day Rate Of Change has been negative for the past 11 sessions.
The closing has been below the 5-day Exponential Moving Average level for the past 11 days.
The 20-day Commodity Channel Index has remained negative for the past 10 days.
Do not get carried away by the stock's gains over the past two days. The stock is only consolidating before it makes fresh lows. I'd mentioned in my post on 4th Dec regarding the support level of 1290, which is gone now. Therefore, the stock will resume it's downward journey with 970-980 as the next support. Keep accumulating on dips.
Today's High - 1299
Today's Low - 1276
Today's Closing - 1281
Lowest closing since 2nd May, 2014 with low volumes for more than a month now.
The 2-day Relative Strength Index has continued to be below 50% since 21st Oct.
The 12, 26-day Moving Average Convergence Divergence has remained negative since 23rd Oct.
The 10-day Rate Of Change has been negative for the past 11 sessions.
The closing has been below the 5-day Exponential Moving Average level for the past 11 days.
The 20-day Commodity Channel Index has remained negative for the past 10 days.
Do not get carried away by the stock's gains over the past two days. The stock is only consolidating before it makes fresh lows. I'd mentioned in my post on 4th Dec regarding the support level of 1290, which is gone now. Therefore, the stock will resume it's downward journey with 970-980 as the next support. Keep accumulating on dips.
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