Today Dishtv made a high touching the 89 SMA at 42.67. The stock has broken its rising trendline starting from 3 Nov 2009 to 27 Nov 2009, which got broken on 15 Dec 2009.
DISHTV: EOD CHART Closeup:
However, the follow-up candle on 16 Dec was major bullish candle opening at 38.9 and stock today making a high of 42.6. However, the stock has not broken the trendline and stil looks in downtrend. This stock has a major falling candle (refer long term chart) which would be difficult to break. In case that is broken, can propel the stock to newer highs.
Long term Trendline chart:
Verdict: Plannin to go long above 44, would not mind adding some units here, but small quantity..Watch the below Pivot points for support and resistance:
Disclaimer: These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students