Neuland Lab Base formation, RSI Bullish divergence on WC.

Neuland lab has been consolidating for around 13-14 weeks & formed a strong base on weekly chart. The base has acted as a strong support, as can be seen in charts script has taken support multiple times. This was also a strong resistance zone when script broke out in Feb 21, now acting as strong support. The stock has seen a relatively low volumes in consolidating & the RSI is also not encouraging at 41, but has formed a positive divergence on weekly chart, so should see strength in coming week. In coming week price reversal can be seen & if croses the resistance of the symmetrical triangle, can show good up move. Keep an eye!!

Discl : Invested, not a reco for buy/ sell

Commentaire:

Shown some good movement today, Daily RSI is now close to 60, good strength. Weekly RSI has given a BO on the chart. a weekly close above the Ascending triangle will be a strong closing.

Disc; Invested, not a reco for buy/sell