What is a Trend Turnaround?
When a downtrending stock that was SELL AT RESISTANCE takes out the resistance, moves past it and then pulls back to test previous resistance as support, then that change in trend is called Trend Turnaround.
Case Study: Aptech
Source: Chartalert.com
Aptech stock for long time was trending downwards with the resistance at 200 dma. It means prices were going down and every rise was met with selling near 200 dma. Then the change came – the stock found support at 115-120, and made a big bullish move.
Source: Chartalert.com
Aptech stock broke past the resistance of 200 dma and then pulled back to retest it as support. The previous resistance now has become support. The stock then today has done the most bullish thing: Big bullish Candle bounce from 200 dma on huge volumes. I expect strong momentum ahead on this stock with stop loss below 149
Previous Case Study: Trend Turnaround
https://www.smarketpremium.com/2019/11/15/turnaround-momentum-in-the-making/
Please do your own due diligence before trading.
hi Deepak
hul has corrected due to slowing revenue growth
is it a good time to buy
thanks
Sane