ACC LTD Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving in a down channel formation, sharp move expecting when ACC come out from its formation. (Updated on 13th August 2014, Wednesday).

ACC LTD

• As per previous report published on ACC , Stock failed to show weakness after breaking its major support, and stock bounced back. (Click here to see previous report published on ACC LTD).
• Now daily chart indicates stock is moving in a down channel formation, but once stock comes out from its down pattern then sharp move is expecting in ACC LTD. On upper side stock will test its strong trend line resistance around 1500, 1510 and 1525. Sharp bull move is expecting once ACC closes and stays above 1525, as shown in graph no1.
• As per graph no 2 , stock gave a fake bearish breakout by closing below its 23.6% fibonacci retracement support and then bounced back. This indicates as long as stock holds above it will be favored by bulls.
• Suggested Reading - BANK OF BARODA facing strong golden ratio resistance, will be favor by bulls if closes above.
• Technical also indicates stock is trading above its 50 days moving average as long as stock holds its 50 DMA it will be favored by bulls, moreover stock major trend indicator "MACD" just turned positive, this indicates ACC to show show some strength as long as macd holds in positive zone. Close Watch.
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