Chart Of Geometric Ltd.
Shown above is the daily chart of Geometric Ltd. as on 27-03-2015. As we can see on the chart displayed, the stock formed a double top at nearly 163.25 levels at points marked as 'A' and 'B'. At point 'C' it breached the barrier of 163.25 and gave a splendid rally, now, since the stock breached the level 163.25 it will act as a good support for the stock and in the last trading session the stock has come and rested on its support which is a bullish indication. The trend line shown is also giving the stock a good support since it has been tested 3 times at 'D', 'E' and 'F'. Therefore, I expect the stock to gain up to levels of 175-180 and one should maintain a strict stop loss below 158 on a sustaining basis.
No comments:
Post a Comment