ASHOK LEYLAND
DOUBLE TOP AT 47.25
On Daily Charts this stock made Double Top at 47.25 and formed the Bearish Engulfing Pattern which signals the SELL on this stock.Daily CCI is off from the levels of extremes and Daily RSI kissed themid-point level. So place a stop loss at 47.25 and go short in it andcover at 43.10 and 40.50. Just few days beck this stock got the breakout from the Downward Sloping Channel and now its making the lows overthe Upper Trendline of the Downward Sloping Channel.
DOUBLE TOP AT 47.25
On Daily Charts this stock made Double Top at 47.25 and formed the Bearish Engulfing Pattern which signals the SELL on this stock.Daily CCI is off from the levels of extremes and Daily RSI kissed themid-point level. So place a stop loss at 47.25 and go short in it andcover at 43.10 and 40.50. Just few days beck this stock got the breakout from the Downward Sloping Channel and now its making the lows overthe Upper Trendline of the Downward Sloping Channel.
posted by Naveen Pantera at 9:48 PM
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