Naukri's improving technicals
Naukri's stock has seen a strong improvement in the last two days.
i. Prices have gone above the 8EMA, with the structure of MA's at a benign 8EMA>50SMA>200SMA.
Note: The 20SMA has not yet gone above the 50SMA and 200SMA. That would be a strong point to notice. Once the MA structure is at Price>8EMA>20SMA>50SMA>200SMA - It would be a theoretically perfect structure to consider a long position.
ii. The On Balance Volume continues to remain strong and improve.
iii. The RSI continues to make HH's as seen in the underlying price action.
A strong uptrend could be in the making, once it crosses the previous high level (that was the resistance of its time) at around 8460-8470 levels. Most probably, that would also mark the 20SMA rising above the 50SMA and 200SMA - a cherry on the top!
i. Prices have gone above the 8EMA, with the structure of MA's at a benign 8EMA>50SMA>200SMA.
Note: The 20SMA has not yet gone above the 50SMA and 200SMA. That would be a strong point to notice. Once the MA structure is at Price>8EMA>20SMA>50SMA>200SMA - It would be a theoretically perfect structure to consider a long position.
ii. The On Balance Volume continues to remain strong and improve.
iii. The RSI continues to make HH's as seen in the underlying price action.
A strong uptrend could be in the making, once it crosses the previous high level (that was the resistance of its time) at around 8460-8470 levels. Most probably, that would also mark the 20SMA rising above the 50SMA and 200SMA - a cherry on the top!
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