Time Techno update. cmp 249. Finally today the stock price managed to convincingly cross its previous all time high of 233 posted in 2018. ( disc: invested, added more during recent correction because of following observations)
Some observations during recent correction:
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It corrected less than 20% from its most recent swing high. Swing high was 234, and during recent correction low posted was 189.
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Stock price did not breach its 10 WEMA conclusively. Its 10 WEMA was at 199, and during two weeks of severe correction, stock price briefly went below this level but managed to close above 199 in both weeks. (Even if it closes below this level for a week or two, without going too much below it significantly, its okay)
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It corrected to 50% of retracement of the last leg of the rally and held that level.
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It was very quick to bounce back from support levels.
Stocks that rally above previous swing highs, or all time highs post a strong correction are the ones to watch closely to find out the next batch of big winners.
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