Since hitting 2000.00 the share price has retraced 41% and since have consolidated around the 2800 area. The average estimates from brokers are still at a hold - buy rating. The RSI is showing a bullish failure swing with the indicator making lows and the price making a higher low.
On the weekly chart price action has been bearish with a shooting star candle (last week). However, the daily chart contradicts this with a hammer candle rejection of the 2754 lows.
R3 2876.80
R2 2850.00
R1 2800.00
Current 2722.00
S1 Upward trendline starting from June 6 low.
S2 2722.00
S3 2651.00
S4 2620.13
On the weekly chart price action has been bearish with a shooting star candle (last week). However, the daily chart contradicts this with a hammer candle rejection of the 2754 lows.
R3 2876.80
R2 2850.00
R1 2800.00
Current 2722.00
S1 Upward trendline starting from June 6 low.
S2 2722.00
S3 2651.00
S4 2620.13