Exide was trading in channel. It Gave false breakout earlier also.
or its just because of short covering stock is moving upside
How do we confirm that this breakout of today is not false.
I can think of :
- Atleast one candle to be complete open & closed above resistance line
- MACD crossover.
I’d personally wait for it to break swing high (false breakout high) before going long.
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mdk
3
still weekly chart its bearish, results on November 6th
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I think upside breakout is not yet happened!!! ,
- Exide has taken long term support but yet to cross resistance line,
- MACD is still below “0” line.
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iSTFF
5
Exide blasted up through the compression yesterday… was expecting this…
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alphaT
6
Did you go long? Conf did’nt come easy on this one.
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EXIDEIND not able to close above its resistance level of 200 & fell, confirming the false breakout !!
Exide crossed its resistance level of 200, finally breakout !!!
But if you see on weekly charts it is still facing resistance of 200MA
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Absolutely ,
I think ,Exide is in a very long consolidation phase , and will break down further along with the Market
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