Bull therapy 101-thread for technical analysis with the fundamentals

@abhimakk nesco went below the trading range to tests previous support and the test seems to be sucessful on volumes…

resistance should be encountered at the level of the previous climactic stopping action as mentioned in the chart in the 547 region…

how the character if the price action changes at that point will give significant clue about whats going on…

for now, the price action has entered in the over sold zone and a rally should continue to the resistance level…

also in the monthly chart there is a hammer candle formation at the ema of the bollinger band…
and rsi maintains support but the macd looks pretty bearish…

overall positive set up only for the short term …
yet its not evident if its a distribution or accumulation as this is phase b only, phase c is the one where its a disclosure what phase b was all about , so we have to wait for it…
the decline was definitely a show of weakness and i would be extremely cautious, also because in terms of Elliot waves, to me, it seems primary wave 5 is over and we should be in correction/consolidation in a range for quite some time…

personally, there are numerous other stocks in technically better positions…

mean while the fundamentals are still on track, although IT park 1 and 2 [2 in june 2019 schedule]being demolished, the earnings from the same should be balanced at least partial from ITpark4 start up in dec2018, hike of rental income of 15% from most customers, BEC although a seasonal business, but the growth seems intact from this segment, with addition increase in client base[10 more clients added i suppose in last couple of quarters??] and also the revenues from the F&B segments…

all the best…

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