McDowell on Wednesday(31-May-2017) flied with a gap. My analysis is that this gap will be break away gap and will not be filled soon. On daily charts there is a cross-over of 89 and 200 daily SMA and 50 Day SMA and 50 Day WMA is about to happen.
Now stock is trying to close above 2321 previous top of 2317 (15-March-2017). Above which stock will be ready to test 2424 and then 2600.
On weekly charts also the stock is ready to cross falling trend line. Targets of that also comes around 2700.
Now stock is trying to close above 2321 previous top of 2317 (15-March-2017). Above which stock will be ready to test 2424 and then 2600.
On weekly charts also the stock is ready to cross falling trend line. Targets of that also comes around 2700.
Stop loss of that trade can be placed at 2100.
Disclosure: I am not a SEBI certified analyst so please take your own call before acting on this call. Further i hold the stock in my portfolio.
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