Dixon
Well, can’t comment on short term up and downs ( It may bounce a bit in short run as IT and related companies are in falling -zone since last many months), but it seems very bearish in long term.
Look at the red candles ( Jan 22) and buying climax candle in April. Big hands have exited the stock . And now top of these candles would act as resistance whenever price tries to move up.
Untill and unless big money comes back, the chances of it to go back old ATH seems very low.
Also stock is at lower level of recent rising channel (red arrow) , need to watch-out .If it breaks this channel , then chances are that it would go below 40 WMA. That would lead it to much lower levels.
Disclaimer :This post is just a for learning a method. No buy/sell recommendations. These are probability study methods and chances of success depend upon various factors.
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