Long term perspective
Further down side expected in Tata Motors
Basis:-
1. 5 day SMA below 20 SMA indicating downtrend
2. RSI on monthly and weekly chart below 40
3. Negative reverse divergence indicated by RSI forming higher bottoms and the chart forming lower bottoms (marked with black arrows)
4. Good red volumes
The chart in the post is candlesticks. Reverse divergence can be better seen on the line chart.
Do follow, like, share if you like my post
Simple analysis.
TATAMOTORS
Further down side expected in Tata Motors
Basis:-
1. 5 day SMA below 20 SMA indicating downtrend
2. RSI on monthly and weekly chart below 40
3. Negative reverse divergence indicated by RSI forming higher bottoms and the chart forming lower bottoms (marked with black arrows)
4. Good red volumes
The chart in the post is candlesticks. Reverse divergence can be better seen on the line chart.
Do follow, like, share if you like my post
Simple analysis.
TATAMOTORS