BIRLASOFT LTDLong
BIRLASOFT : Following a strong trend to next earning call
My first analysis ever, please be gentle :)
There are 4 forces at play -
1. Strong trend line starting from mid-march when lockdown began in India
2. Upcoming earnings call around Jul 22
3. Previous resistance around last earnings call
4. 50 DMA & 200 DMA show long position is beneficial
Summary:
BIRLASOFT is moving strongly along a support line building up to its next earnings call. It might be able to sustain the momentum up to 95-98 range.
If it crosses, 98 then target at Feb 2020 resistance at 103.
Target 1 : 95 (Jul 22)
Target 2 : 103 (Aug 2020)
Please do note that stocks dip significantly a day or two before results as traders going long try to buy on the cheap so be careful if you decide to go this route.
Note: Not a financial advisor. Just someone who's been observing the markets for a while now.
There are 4 forces at play -
1. Strong trend line starting from mid-march when lockdown began in India
2. Upcoming earnings call around Jul 22
3. Previous resistance around last earnings call
4. 50 DMA & 200 DMA show long position is beneficial
Summary:
BIRLASOFT is moving strongly along a support line building up to its next earnings call. It might be able to sustain the momentum up to 95-98 range.
If it crosses, 98 then target at Feb 2020 resistance at 103.
Target 1 : 95 (Jul 22)
Target 2 : 103 (Aug 2020)
Please do note that stocks dip significantly a day or two before results as traders going long try to buy on the cheap so be careful if you decide to go this route.
Note: Not a financial advisor. Just someone who's been observing the markets for a while now.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.