DETAILED TECHNICAL ANALYSIS ON CAPLIN POINT LABORATORIES.
Few pointers from my analysis on CAPLIN POINT LABORATORIES:
1. The stock has consolidated in the Triangular pattern and currently near its major support.
2. The major support trendline is near 0.382 Fibonacci level, thus has done healthy retracemet.
3. The Horizontal support is broken on the downside, however on lower volumes.
Conclusion:
The current setup is awaiting price confirmation by breakout of the resistance on Triangular pattern with high volumes and Breakout of RSI above 50. Overall setup is bullish however entry can be taken prior to the confirmations.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
1. The stock has consolidated in the Triangular pattern and currently near its major support.
2. The major support trendline is near 0.382 Fibonacci level, thus has done healthy retracemet.
3. The Horizontal support is broken on the downside, however on lower volumes.
Conclusion:
The current setup is awaiting price confirmation by breakout of the resistance on Triangular pattern with high volumes and Breakout of RSI above 50. Overall setup is bullish however entry can be taken prior to the confirmations.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
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