The major trend of
Drax Grpup Plc is bearish and managing to sustain at lower level
with negative bias. Stock is facing resistance from 50 DMA and
sustaining below that which indicating the weakness in the stock.
Breaching of the level 626 it can test the level of 576 with the stop
loss of 660.
CHART
FORMATION:-
Stock is looking
weak on chart and forming inverted flag pattern breaching of the
level can give the target of pole. Stock is managing to
trade below 50 DMA and 200 DMA , facing resistance from it's 50 DMA
which is acting as good stop loss level at 660.
INDICATORS:-
RSI is trading
below the level of 50 with negative bias & given the break out of
rising trend line which indicating the down side movement in the
stock. MACD & Signal
line is trading below the zero level line , indicating the trend of
stock is weak.
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