Technical Outlook PFC

Oct 19, 2013 No Comments by


As on October 16,



The pfc stock was in an uptrend since last one month but, now the stock is reversing and breaking the uptrend in downside. It is also not able to move above its 100 day moving average of 140. Now it as break it has broken the support of its short term moving average and heading towards 120 levels.



The stochastic indicator which is used to measure the short term direction of the stocks is showing negative signs. The blue line called the trigger line is cutting the yellow line from the top which is bearish sign for the stock.



The leading indicator called Relative Strength Index (RSI), is indicating the stock is highly overbought. The indicators are already showing negative signs indicating a downward trend in the stock.


The Moving Average Convergence Divergence (MACD) is also showing negative signs of the stock being highly overbought. It is very important to note that the blue line called the trigger line is cutting the yellow line from above, which indicates the selling pressure can be seen in the stocks.

Taking into consideration the trend line breakout, the moving average breakout on downside and the indicators’ negative sign, it is right time for the investors to exit the stock. Fresh shorts can be initiated with a stoploss of Rs 140 ( near the 100 day moving average) with a target of Rs 120-124.


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