I am writing after a long, long, and still long time…lil busy with LIFE!...actually some personal things needed immediate attention….and no I didn’t burnout myself trading!!!
Sorry for disappointing a lot of readers and thanks to all those folks who called and mailed inquiring about me…touched…never knew I would be missed…
Anyways back to what I like to do…Charting!!!
Below is the chart of Financial Technologies, a scrip, I like to get into now, and maybe build up a position further on the dips. Read about the company here and here!
Below are the weekly and the daily charts of FINTECH…The weekly chart to your left shows a bit of a stalling of the fall…a place where it would be called in technical parlance “old resi turns to supports”, need less to remind here that when it comes to the crazy market behavior all these supports and resi’s go for a toss! Well the chart is a bull’s nightmare…all the three key weekly moving averages are above the price…infact I feel there is a case for mean reversion here. The price needs t either jump up here…a kinda spike, or perhaps move sideways so that to enable the nearest MA to catch up with it.
Moving towards the daily chart to your right, we can see an inside day…a simple trade, for people who trade such set ups. The divergence (positive) is too obvious so one can’t miss it. Another important point to be noticed is that volumes have not really picked up during the fall so I guess all is well with the stock…no panic yet.
I am going to buy this as positional and not for trading…
Enuff of writing for a single post…guess getting a lil rustic here…will pick up my tempo soon!!!
4 comments:
This is more of a positional buy i guess. Minimum 3 months. Only for the investor!! Good to see you posting after a long time.
Thanks for starting posts which are eye opener daily we were opening blog and returning empty handed.Then opening blog of timamo now again sad he is stopping market commentry and doing Ads.Your tutorial lessons are highly practical.Regarding Fin Tech those who do not want to catch potential may wait for RSI to turn back above 40 and MACD histogram to reach Zero level.Though then price may be little more but may reduce the holding time.
Hi Manoj,
Nice to see you back in action,hope business did well in this peak season for you (your reason for a break)
Looking forward for your posts...
@purnanand...yup more of positional and requiring patience a whole lot of patience..rewards i am aiming for 100%...!
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@sodhan...sodhan what you suggesting is good..avoid a falling knife...good for a swing trade...but me intending to go in now for a longer period...!
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@anuj yeah season time till feb end...hopefully will end well too!
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Hey guys thanks for the comments and the welcome message...makes one feel good!!!!
Cheers!
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