Bayer Crop
CMP – 4250
Sometime we wonder about these kind of questions from investors !
This is a compounder type of stock —these kind of stocks move for a certain period and then gets into correction mode- it is quite usual.
One should ask a question to himself :Why it should move now ?
a) Is it undervalued ?
b) Is it a bull market when every Tom ,Dick and Harry goes up ?
c) Is it giving some extra-ordinary and surprising results ?
d) Is it going to disrupt any sector ?
If the answers to above question is ‘no’ ,then one should not expect any fast upside movement .
On weekly chart, it is in Stage 4 and it is currently at an important support zone (green line). If this breaks, then it may test lower green line ( next support level)
Till it does not move above 40 WEMA, we don’t expect any upside.
Weekly Chart
Disclaimer – Have no position.
This post is just an effort for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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