PFC
- PFC is moving in a down channel formation in daily chart, this indicates as long as stock trades in between this channel, if will favor bears.
- Daily chart also indicates stock is currently facing strong 38.2% fibonacci retracement support zone around 257, if stock closes and stays below then further weakness is expecting in PFC for next 1-2 trading days.
- Intraday close watch once stock starts trading below 257, if stays below with volumes then intraday weakness is expecting in PFC.
- Suggested Reading - ESSAR OIL holding strong in down market can see bull move once closes above 120.
- By looking fibonacci retracement from other point of view as shown in chart no 3, it also indicates the same that stock is facing strong support around 257, as long as holds above chances are high stock can move up, but closes below then stock will be in bears grip.
- Stock major trend indicator MACD is still moving in negative zone, this indicates further weakness. If stock falls from current levels then will find next strong trend line support around 242 (as shown in graph no 4).
- Click here to see all the free trading reports (tips) published by us on PFC.
- Tips On share
No comments:
Post a Comment