NETWORK 18 TURNING BULLISH WITH WEEKLY ABCD & SUPERTREND BUY
Network 18 Media & Investments Ltd. is an interesting chart with following
1. RSI on all time frames almost at or above 60 (DWM)
2. Price Gaining Momentum with rising volumes
3. After a long consolidation of price between 77-95 zone since March 2024, Price made a breakout from the range last week with volume
4. Super trend on weekly turned positive
5. Narrowing Bollinger Bands on weekly chart and price walking on upper band
6. Cluster of moving averages support in 85-89 zone 20, 50, 100, 200 day simple averages fall within this zone
7. ABCD Pattern under formation on weekly chart
Can be a Good Risk reward to buy on dips and dips only
Lets See How it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames almost at or above 60 (DWM)
2. Price Gaining Momentum with rising volumes
3. After a long consolidation of price between 77-95 zone since March 2024, Price made a breakout from the range last week with volume
4. Super trend on weekly turned positive
5. Narrowing Bollinger Bands on weekly chart and price walking on upper band
6. Cluster of moving averages support in 85-89 zone 20, 50, 100, 200 day simple averages fall within this zone
7. ABCD Pattern under formation on weekly chart
Can be a Good Risk reward to buy on dips and dips only
Lets See How it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
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