Free Stock Tips and Trading Ideas for September 09, 2010 (9/9/2010): Buy WelCorp
September 9, 2010 by admin
Filed under Analyst's Corner, General
Free Stock Tips and Trading Ideas for September 09, 2010 (9/9/2010): Buy WelCorp
On the Daily Charts, WELCORP has made a White Opening Marubozu Candlestick, with a spurt in volume. The stock has moved above the 50% level of its recent downside Fibonacci Retracement, placed on the chart.
Hence, has gained strength too. the stock is trading above its 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) of 245.10 and 246.35, respectively. For the day the stock made a high of 258.40. 14-Days RSI (Relative Strength Index) has strengthened and is quoting at 62.99 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (25.84) is above the Negative Directional Index (16.23), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 16.49 on the Daily Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy WELCORP at the level of 257 for the Targets of 268 & 270, with the strict Stop Loss of 248.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
