ESCORTS CAN MOVE TO 950-980 LEVELS ON THE HIGHER SIDE ,,,STOP LOSS FOR THE POSITION IS 850…
PRICE PATTERN STUDY:
MONTHLY BASIS AND WEEKLY BASIS:
The stock price is trading in a range of 800-1000 for the last six months which can be termed as a consolidation phase
DAILY BASIS:
On daily basis supports shifting higher since july which shows higher bottoms and higher tops which indicates bullish strength .Also ,, an inverse head and shoulder is developing on daily charts…Prices are also moving in a rising channel…
CANDLESTICK ANALYSIS:
MONTHLY BASIS WEEKLY BASIS
BULLISH HARAMI MORNING STAR WITH
WITH INCREASE IN SIGNIFICANT JUMP IN
VOLUMES IN JULY VOLUMES
SERIES…
INDICATOR STUDY:
Lagging indicators are not supportive as the stock price is consolidating in the range like ADX with DMI is becoming week and MACD too not supporting that much too..
But all the leading indicators like RSI,, ULTIMATE OSCILLATOR ,, CHIAKIN OSCILLATOR ,,, are all favoring the formation…
200 EMA AND SMA also providing good support on daily charts.. 50 EMA also providing support on weekly charts.
FIBONACCI RETRACEMENTS:
After retracing from 61.8% the stock price corrected and takes support below 23.65%… and now looks to test 76% on higher side ..
