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EMCO – TECHNICAL CHART STUDY

emco_1

buy EMCO above 41 closing basis, sl 28 target 55-70-85

technical chart study

as per the long term chart we can see that stock has recently form a rounded bottom, and now moving above almost 2 years high level.

its even moving into higher – highs and higher’s lows pattern now.

even its moving into rising channel, and just able to move above long term resistance point after a good consolidation.

also rsi is taking support at every point and moving up and still having a good scope for a movement with the price.

so over all study indicate that if price able to move above mention level and if able to close good for the day then we can see some moves in this stock in coming days.

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