Trending Stock - GMDC LTD
GMDC Stock price surged almost 10 % today and closed at 315 which is technically above daily and weekly 20 simple moving averages. High delivery volume today.
On Monthly chart Price is taking support on lower BB which clearly
shows that the downside is limited from here.
Monthly chart:
Weekly chart:
Price action shows that stock has already made a bottom on
weekly chart.
Bolinger band outside inside double bottom formation, also
rsi range can be seen on chart.
Price closed above 20 sma , stocks can give great swing from
here on.
Daily chart:
Price shows BB blast on daily chart with huge volume.
RSI crossed above 60 which itself tells that stock can show momentum
from here.
Conclusion – GMDC Ltd is in strong momentum and
if price continue trading above 20 SMA , stock price can soon touch 380- 400
levels. Entry suggested on retracement only.
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