LICHSGFIN: Sell at around 610 stop loss at 620 for the minimum target of 560. Time:10-15 days.
LICHSGFIN has formed the head and shoulder pattern on the daily charts which resembles the sellers taking the command on the price. Also on weekly charts prices formed a descending triangle which has already broken below 610 levels.
After taking the bottom of 11-11-2016 and the top made on 23-06-2017 the retracement of 61.8% is at 590 levels which the stock price has already broken and made a close below that level on weekly basis.
After putting the Gann Fans the price has broken below the second last angle and now moving towards the final angle which is just placed at 555 levels approx.
Indicator study like 200 day SMA and EMA also trading above the current market price showing long term bearishness as well.
MACD and RSI on weekly charts indicating downside momentum is getting strong.
Here is the snapshot:
