| Forum Home > Medium Term Picks > Glory Polyflims | ||
|---|---|---|
|
safdar Member Posts: 5 |
This stock is moving in a very tight band for a long time now. If you see the weekly charts and apply bollinger Band over the chart, it is moving in a very tight band. The band is so squeezed right now that, any move can make the stock double from the current levels. Recently it moved over its 200 DMA . But it has now retraced back below it. Almost all stocks gained from 2 to 5 times in the last year. This one diclined 85 %, from its high of 200. There is a strong chance of it catching up. It is usually noticed that after a long period of consolidation, prices break out .Here we can assume it should be on the higher side. CMP 24.2 Please remember that we are here discussing technicals only and not fundamentals. Safdar | |
| ||