HP ADHESIVES LTDLong
HPAL - Weekly Chart Analysis, CMP-117.75
After breaking it out of the resistance/supply zone 91-101, it didn't sustained and started consolidating around the zone. So the previous resistance now acted as a support zone.
After consolidating for 21weeks in 22% range it had finally came out with good volumes support.
It is well trading above all its key moving averages too.
Still we shall consider 91-101 as the main support. (106-109) are the minor ones though. So you can keep the risks in check. Below this our view is invalid.
132 - 145 - 162 - 209 are the levels it can test probably 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.
After consolidating for 21weeks in 22% range it had finally came out with good volumes support.
It is well trading above all its key moving averages too.
Still we shall consider 91-101 as the main support. (106-109) are the minor ones though. So you can keep the risks in check. Below this our view is invalid.
132 - 145 - 162 - 209 are the levels it can test probably 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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