The stock recorded a modest gain of 5.0% as against the -5.5% loss recorded in the previous week - an improved but weak bargain tendency was observed towards the stock despite mixed sentiments caused by overall bearish sentiments in the market.
The stock maintained its bullish mode in both short and mid-long term period as revealed by the price moving average amid sustained distribution trend in the week, on the back of a bearish volume trend.
However, the candlestick pattern revealed active posture of the bears while the southward trend in the money flow index (MFI) further buttressed distribution trend observed in the week.
Technical conclusion on sentiments: The stock experienced active presence of the bears while the bulls maintained weak posture in the week. It would appear that a cautionary approach will be in order towards the stock while we expect bargain side to hold its position due to the possibility of price volatility in the coming week as the emerging sentiments appear mixed. Noteworthy is the posture of Bollinger bands which does not provide anything conclusive.The chart below shows MACD, candlestick, RSI and volume analysis.
Disclaimer:The information provided herein is our opinion only. Under no circumstances do any statements here represent a recommendation to buy or sell your stocks or make any kind of an investment. You are responsible for your own due diligence. To summarize, we do not provide recommendations nor do we make any claims or promises that any information here will lead to a profit, loss or any other result. They are for your guidance purpose only.