BUY QUICK HEAL TECH LTD ( NSE : QUICKHEAL )
- On a daily chart, we can see a positive crossover of 20*50 exponential moving averages which suggest an upside movement in the counter.
- Moreover, the stock has given a breakout of its neckline of the Double Bottom formation which is leading to the northward movement.
- On a weekly chart, the stock has halted its healthy correction of its 61.8% Fibonacci Retracement level from its last upward move from 176.30 to 400 which caused for a bounce back move in the counter.
- The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which indicates that the trend is up and the stock could further accelerate its upside movement.
- RSI reading is at 60.08 with a positive crossover after taking support at mid line on weekly chart which points out for a positive breath in the stock.
- Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.