DOUBLE TOP FOR BECTOR FOOD- POSSIBILITY OF SHORT TERM REVERSAL
BECTORFOOD has fallen to a low of 328 in March 2021 and has been Bullish since then. It has reached a High of 445 in June and has retraced from the resistance zone at 442-452 range to a low of 395.
Now it has reached the resistance zone again and has made a Bearish Pin Bar that is half of the Evening Star Candle Stick Pattern. There is also a Bearish Divergence. So short term the pattern is bearish.
To go long we have to wait for break of the resistance zone at 442-452 range and wait for a retest and can go long on a confirmation Bullish Candle for Targets of 502.
Now it has reached the resistance zone again and has made a Bearish Pin Bar that is half of the Evening Star Candle Stick Pattern. There is also a Bearish Divergence. So short term the pattern is bearish.
To go long we have to wait for break of the resistance zone at 442-452 range and wait for a retest and can go long on a confirmation Bullish Candle for Targets of 502.