Below is the daily chart of DCB and few insights from the chart;
A buy above 91.60 (200 EMA on the chart...this might stall the move) with a Stop tad below the gap at 84 is a good way to play this. The immediate overhead target is 101-103. Lets see how this pans out or will drift sideways for few days to make yet another pattern the CNH ! For the conservative people a very safe idea is to keep watching and buy the breakout above 103 if accompanied by volumes.
- A nice rounding bottom from Oct 15 till April 16 where it did try to break out above the overhead GAP resistance.
- A pullback from their with small red candles all within the range of that big Green Expansion.
- Price nestled between the 200 And 20 EMA.
- If you were following this chart than a very good entry was at 75-77 level (marked in the yellow ellipse) where the price broke out of the 20/50 EMA,s and also the 20/50 EMA's crossed upwards signalling a positive note.
- There is a Gap below unfilled that might be a cause of concern.
A buy above 91.60 (200 EMA on the chart...this might stall the move) with a Stop tad below the gap at 84 is a good way to play this. The immediate overhead target is 101-103. Lets see how this pans out or will drift sideways for few days to make yet another pattern the CNH ! For the conservative people a very safe idea is to keep watching and buy the breakout above 103 if accompanied by volumes.
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