INTENTECH - Weekly Chart Analysis, CMP-125.35
After breaking out of the downtrend it retested the resistance zone which acted as a support.
It seems coming out of the 1st base of 9weeks and 25% range and in confluence this is the 1st week which close above the highest monthly close that happened in 2017. The stock did not closed above this on monthly timeframe.
Volumes are good. It is sailing above all its key moving averages too.
96-110 shall act as good support now and a weekly close with a follow through will invalidate our views.
143 - 182 - 193 - 231 - 341 are the levels it can test over the long term if it manages to show strength and market conditions went well in the future.
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.
It seems coming out of the 1st base of 9weeks and 25% range and in confluence this is the 1st week which close above the highest monthly close that happened in 2017. The stock did not closed above this on monthly timeframe.
Volumes are good. It is sailing above all its key moving averages too.
96-110 shall act as good support now and a weekly close with a follow through will invalidate our views.
143 - 182 - 193 - 231 - 341 are the levels it can test over the long term if it manages to show strength and market conditions went well in the future.
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.