McDowell charts posted on 1-June-2017 is moving very rapidly.
Read the earlier post here
McDowell heading to 2700
Now McDowell today given a fresh breakout on daily charts. Targets of that comes around 2770-3100. The stock today moved above the previous swing high of 2427. In that process it is now making higher lows and higher highs.
Stock is also giving positive cross-over of 89 and 200 daily SMA and 50 day SMA and 50 day WMA which aging be a long term positive. So all bear market in this stock has seemed to be ending and stock is ready to move much higher. However there are multiple resistances are coming in the range of 2670-2880 so it will be wise to books some profit if stock moves to 2670.
Disclosure: I am not a SEBI certified analyst so please take your own decision before acting on this call. Further i hold the stock in my family members portfolio.
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