MANAKCOAT - Weekly Chart Analysis, CMP-34.95
On the monthly chart the price was not able to sustain above 25 levels which we see now seems sustaining.
Probably coming our of small base of 8 weeks and 20.5% range it is well sailing above all its key moving averages with decent volumes. Quarterly sales are improving.
18-25 levels will now act as strong support and a weekly close below it with a follow through will invalidate our view.
42.5 - 62.55 will be the primary targets as these are the resistance above. After successful breakout of these levels 74 - 90 - 111 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Probably coming our of small base of 8 weeks and 20.5% range it is well sailing above all its key moving averages with decent volumes. Quarterly sales are improving.
18-25 levels will now act as strong support and a weekly close below it with a follow through will invalidate our view.
42.5 - 62.55 will be the primary targets as these are the resistance above. After successful breakout of these levels 74 - 90 - 111 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
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