Marico Trading retesting its bearish channel support.

9 בנוב׳ 2016

Marico after breaking long term up trend, it seem to have established a down trend and trading in bearish channel, today it broke support but closed within the range it may be due to news of currency discontinuation (500,1000 notes end) the stock is touching support and ready to upward direction to channel resistance somewhere between 270-275, traders may go long after it slightly sides below (around 255.00 )in this stock with a target of 275.00 and short again there if breakout doesn't occurs.