TATA STEEL APPROACHING TO ITS CRUCIAL RESISTANCE

2022년 7월 29일

After split the stock has rallied, almost 12% which now has put the prices at resistance zone (106-110) which was acted as a strong support.

The zone is around 106 - 110

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Some bad about this stock
1) prices trading below 200 day moving average.
2) Price corrected recently 45% which is huge.
3) The volatile metal prices, making business projections , dismal.
4) On chart we are seeing that it is trading below 110 level which was support earlier.

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Some Good about this stock
1) Stock prices has shown a big rally recently
2) Overall market sentiments shifted slightly bullish , as after expected FED policy.
3) Metal sector overall on chart is bullish in short term.
4) RSI crossed 70 on daily chart , many will argue at this point that it is overbought case, but I don't think so.
5) Quarterly results were average.

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Conclusion : Stock will be bullish above breakout of resistance zone , so plan accordingly.

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Comment below if you want to add or correct anything.

2022년 8월 4일

노트

ALL EYES ARE ON 110 LEVEL

2022년 9월 2일

노트

ANOTHER SETUP