The stock is in upward trend. Seems like some profit booking is happening.
Ideally it should bounce back up from around 220 as it is near 50-55 EMA on daily charts and also it a round number (psychological move).
There might also be a chance that stock will consolidate around 224 for a while before breaking the resistance and continuing on the upward trend.
Fundamentally, the stock has a good EPS dil growth and Revenue growth.
Suggestion: Wait for a sustained positive candle(s) either from 50-55 EMA bounce or breaking the resistance above 224.
Ideally it should bounce back up from around 220 as it is near 50-55 EMA on daily charts and also it a round number (psychological move).
There might also be a chance that stock will consolidate around 224 for a while before breaking the resistance and continuing on the upward trend.
Fundamentally, the stock has a good EPS dil growth and Revenue growth.
Suggestion: Wait for a sustained positive candle(s) either from 50-55 EMA bounce or breaking the resistance above 224.
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