HAL [Weekly] - Looking to breakout or fall?
A rising wedge basically signifies a probable end to an uptrend. However, we have been wrong a number of times. But in such irrational and nuclear times a break in trend can signify a massive fall in the price of a stock.
Even though this stock looks strong, the monthly timeframe looks extremely weak. Should this weekly support break, we can clearly expect HAL to correct to 1100 to 1150 (currently its strongest line of support).
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Remember, if the overall market dips, most stocks will also go skinny dipping.
Happy Trading!
Even though this stock looks strong, the monthly timeframe looks extremely weak. Should this weekly support break, we can clearly expect HAL to correct to 1100 to 1150 (currently its strongest line of support).
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Remember, if the overall market dips, most stocks will also go skinny dipping.
Happy Trading!
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