Has HDFCAMC bottomed out?

2023년 5월 28일

HDFC AMC has been in continuous downtrend from late 2019.
As we can see on the chart, the stock has recently bounced from a support level with good volumes.
The most interesting observation is a positive divergence in RSI during the bounce which might be an indication that stock has bottomed.
On Friday, good buying with high volumes has been observed with a bullish candle, almost a marubozu.
This stock has an immediate resistance at 1950 so it is better to buy the stock at around 1800-1810 levels for a better risk reward.

Kindly trade as per your own analysis. This idea is shared for educational purposes.

2023년 6월 1일

노트

Did not get an entry and hit 1950.
Wait for a retracement for bigger move.

2024년 1월 30일

노트

Power of divergence. Never got entry in this but a learning of how strong RSI divergence is. Stock has almost doubled from 1800