Simple Price Action Analysis in CREDITACC
Stock was falling since in a typical downfall manner - LL &LH
Suddenly there are volume Spikes since last few trading session and first time the lower high broken with recent low is made higher than previous one
Now if it breaks recent High (Daily close>1030) then there may be confirmed trend reversal.
The high volume bars gave some aid to Analysis.
Few more confirmations - Price closed today crossing daily EMA50
- Rsi trending up almost reaching 60
- Highest delivery today after 8th January
- closed above Supertrend.
Earliest Target can be Latest Daily EMA 200 : 1150-1160
Long term Targets are 1200,1300,1400+
SL can be 880
Keep watch and do your analysis and give suggestions in comments.
Suddenly there are volume Spikes since last few trading session and first time the lower high broken with recent low is made higher than previous one
Now if it breaks recent High (Daily close>1030) then there may be confirmed trend reversal.
The high volume bars gave some aid to Analysis.
Few more confirmations - Price closed today crossing daily EMA50
- Rsi trending up almost reaching 60
- Highest delivery today after 8th January
- closed above Supertrend.
Earliest Target can be Latest Daily EMA 200 : 1150-1160
Long term Targets are 1200,1300,1400+
SL can be 880
Keep watch and do your analysis and give suggestions in comments.
註釋
Trend reversal confirmed
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