positional call – buy CCL PRODUCTS above 382 sl 240 on closing basis target 320-360
holding period 3-5 months
technical chart reading – after a fall from past 3 months stock has given a strong reverse up move in last trading session, as we can see a BIG BULLISH GAP UP candle on chart on 9/8/13.
other things we can observe is, its a FALLING wedge pattern on chart, and if it able to give the close above our desire level then we can see up move in coming days.
RSI given the POSITIVE CONVERGENCE signal on chart, and RSI able to move out of the oversold zone now, and it has also broken the trend-line resistance level, so RSI clearly shows that its looking for a up move now, but need support and confirmation from the price chart also.
overall study indicate that if stock able to give close above our level of 282 in coming days then stock still have chance to do upside price movements.