Today's Opening - 29.6
Today's High - 30.4
Today's Low - 29.6
Today's Closing - 29.9
I am writing on this stock after more than three years and the stock has lost more than 70% in the past three years.
Positive closing today with 93% higher volume than the past 14 sessions. The closing has been below the 5-day Exponential Moving Average level since 24th Dec 2018.
The 2-day Relative Strength Index has remained below 50% since 18th Jan. Though the Negative Directional Index is still marginally stronger than the Positive Directional Index, the gap has been consistently reducing since 29th Jan.
The 20-day Commodity Channel Index is still negative but has climbed above -150 since 30th Jan. The 10-day Rate Of Change has been hovering around zero since 7th Feb.
The 12, 26-day Moving Average Convergence Divergence has remained in the 0 to -1 range since 21st Feb.
Corporate Activity:
Vodafone Idea reported a loss of Rs 5,000 cr for Q3 2018-19.
Stock Outlook:
Having lost more than 21% over the past three months, Vodafone Idea seems to be getting ready for a pullback. The stock is taking support at 29.2 and has 31.9-32 as the next resistance. In case 32 gets taken, the stock can run up to 32.9-33. Keep accumulating on dips as long as the support of 29.2 doesn't get broken. The stock should give some quick short-term gains from the current levels.
Today's High - 30.4
Today's Low - 29.6
Today's Closing - 29.9
I am writing on this stock after more than three years and the stock has lost more than 70% in the past three years.
Positive closing today with 93% higher volume than the past 14 sessions. The closing has been below the 5-day Exponential Moving Average level since 24th Dec 2018.
The 2-day Relative Strength Index has remained below 50% since 18th Jan. Though the Negative Directional Index is still marginally stronger than the Positive Directional Index, the gap has been consistently reducing since 29th Jan.
The 20-day Commodity Channel Index is still negative but has climbed above -150 since 30th Jan. The 10-day Rate Of Change has been hovering around zero since 7th Feb.
The 12, 26-day Moving Average Convergence Divergence has remained in the 0 to -1 range since 21st Feb.
Corporate Activity:
Vodafone Idea reported a loss of Rs 5,000 cr for Q3 2018-19.
Stock Outlook:
Having lost more than 21% over the past three months, Vodafone Idea seems to be getting ready for a pullback. The stock is taking support at 29.2 and has 31.9-32 as the next resistance. In case 32 gets taken, the stock can run up to 32.9-33. Keep accumulating on dips as long as the support of 29.2 doesn't get broken. The stock should give some quick short-term gains from the current levels.
Thank you for the good insights..
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