First Instance:
- Bearish Engulfing pattern on daily charts, showing profit booking at higher levels.
- RSI is showing negative divergence on weekly charts, while prices on the same are turning-up.
- RSI went under the levels of 70 in the daily charts.
- Stochastic giving negative crossover in the overbought zone.
- MACD line is turning flat, and histograms are also declining, signing trend change in the short term
- Trailing stop loss is place at 360, 370.
- Stock may test on the downside the levels of 350, 340, 335.
On the flip side:
Stock has moved above the up-trending channel, and has also given breakout from a up-slanting pennant.
Stock has got good support zone at 350-352, 340-342.
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