#Colpal has been testing 200 EMA on weekly timeframe since it's inception and always bounces back, there's no reason this time should be any different. One can accumulate it here and for new ATH. This is not a momentum trade and it will take probably few weeks for uptrend to resume, till then accumulate. If Weekly closing is given below 200 EMA and low of that week is broken, exit from it, because it will be the sign of trend change
200 EMA is 1600, so, it's already below trend, could you clarify?
hitesh1bhutani
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@StockWhizzer, every stock has it's own structure which it follows. Now, this stock is below 200 EMA on daily time frame, that's correct and that's why it is not going to give quick upmove, but it'll spend some time over here for people to accumulate and then it'll move up, but every now and then this comes near 200 EMA on weekly timeframe and then bounces back as visible on the chart. So, if you want momentum, this is not the stock to go but if you want value comfort, go for it