Below is my idea on HINDUNILEVER.
The chart tells me wave 5 is going to end and correction ahead.
Technical parameters:
MACD: Above zero line, histogram falling
RSI: Quite interesting to note while price moves up it is going down, indicating a possibe divergence.
PVT: not in line with price.
Price-action last few weeks suggest consolidation and distribution happened which is wave 4.
Leading indicators and FIB congruence suggest wave 5 is on and it will end 1325-1328.
CMP 1246 ,early exit 1322.70 indicating 6% upside, but shorting is an ideal move.
No buy.
The chart tells me wave 5 is going to end and correction ahead.
Technical parameters:
MACD: Above zero line, histogram falling
RSI: Quite interesting to note while price moves up it is going down, indicating a possibe divergence.
PVT: not in line with price.
Price-action last few weeks suggest consolidation and distribution happened which is wave 4.
Leading indicators and FIB congruence suggest wave 5 is on and it will end 1325-1328.
CMP 1246 ,early exit 1322.70 indicating 6% upside, but shorting is an ideal move.
No buy.
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