Escorts Technical Play

13 במרץ 2021

The stock is making a series of higher highs and higher lows indicating strength in the near term trend. on a 4H chart, the stock has recaptured the 50% Fibonacci retracement levels indicating a reversal. The stock is well placed above its 20-day, 50-day and 100-day SMA which supports a sustained up-trend. Volume has been muted for most part of the session and any increase in volume can further add to the bullish thesis.