buy SEAMECLTD above 94 sl 70 target 110-125-155
holding timing 3-6 months
technical study
as per the chart we can see that price is able to move above resistance level.
at bottom we can see that it has given a “POSITIVE CONVERGENCE” signal which was confirm the reversal at 50 level.
presently rsi taking support at certain level and price moving in upward direction which is “INVERTED RISING WEDGE” pattern on chart and this can also indicate a “BULLISH POSITIVE DIVERGENCE”
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at present rsi still not move in overbought zone, and price making new top with good closing. sign of “BULLISH NEGATIVE DIVERGENCE”
so overall indication is one can even buy this stock in a range of 80-90 or can wait till it cross 94 level on closing basis.