PENIND - Weekly Chart Analysis
Stock was not able to sustain above ATH 79.45 level.
It is now consolidating for a month long in 15% range. I would want it to sustain above 87 levels. It is showing strength on monthly timeframe. It is also trading above its key moving averages too.
79.45 shall now act as a key support. If it close below this weekly then the view get invalid.
Volumes are decent and satisfactory. Lets wait n watch.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your due diligence and trade at your own risk.
It is now consolidating for a month long in 15% range. I would want it to sustain above 87 levels. It is showing strength on monthly timeframe. It is also trading above its key moving averages too.
79.45 shall now act as a key support. If it close below this weekly then the view get invalid.
Volumes are decent and satisfactory. Lets wait n watch.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your due diligence and trade at your own risk.
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