CSR Plc is consolidating with support of falling trend line and
managing to trade above 200 DMA & 50 DMA.The major trend of stock
is bearish and it's showing reversal in the stock as from last few
trading session it's managing to trade in positive territory and
gaining strength for buying by showing accumulation with good
volumes.In near future crossing of the resistance level i.e. 590 it
can show the tgt of 660 with 50 DMA acting as good stop loss level at
550.
CHART FORMATION:-
Stock has showing consolidation with support of the falling trend
line, and forming flag pattern which is indicating crossing of the
neck line it can give tgt of pole
It's managing to trade above 50 DMA & 200 DMA which is indicating
strength in the stock.
INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and
facing resistance at 60 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's sustains
above the zero leve
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