The stock has formed a double top formation on weekly charts and looks bearish for short term.
There has been good volume on the day the stock made the high of 617.45 indicating sell off in the stock.
We can expect the stock to fall at levels of 500/490 and a reversal could be expected from then on. Make sure to keep a Stop loss at 618.
There has been good volume on the day the stock made the high of 617.45 indicating sell off in the stock.
We can expect the stock to fall at levels of 500/490 and a reversal could be expected from then on. Make sure to keep a Stop loss at 618.