(End of today, 9th may-08- stock price is 225 )
Certainly this stock has pulled back to 225, which is a good buying spot. But we still can wait 0ne or two day to see if it tests 200-210 area. If overall market stays higher on Monday/Tuesday, then we could go long with S/L 180, T 280.
(as of today, 7th may08- stock price is 246.5 )
Market Sentiment: Bullish.
- Current price is above exponential moving average 20 and 50. So, market sentiment bullish.
- Market is making higher highs and higher lows. double bottom has formed, 2nd bottom is higher than 1st bottom. So, expected trend is higher.
- Chances of price falling down to 200 area is low.
- If you think this share will rise, you could buy this stock at any good intraday pullback (around 230-238) area.
- Stop loss(SL) is around 200-180 area.
- Target one (T1) is at 260, Target two(T2) at 280-300.
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1 comments:
Today United Breweries closed at 225. During this high volatile market, I think it is wise to wait till price tests 200 area which is EMA(20) region.
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