LIC Housing Finance: Is it tracing back the history.!!
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Observations:
I can see the LIC Housing Finance has broke out of its yearly resistance.
Zooming out, Surprised to witness that, the stock is nearly at the same structure (technically) where it was in 2014. As if it is retracing.
In 2014 after its breakout hits the 500 round figure and corrected.
Now I can presume the 1000 round figure would do the same.
If its financials back-it-up strongly, there is no wonder the price will retrace its pattern once again.
One can see the wedge (ASCENDING BOARDING WEDGE) of LIC, playing out (3rd leg) nicely...
Clarification on Markings:
x: pole has double to: 2x
xyz: pole .......?
Note
The Financials of the Company are in support of what technicals have indicated: EARNINGS are Almost flat REVENUE Surprised estimates with 2.68%
Note
Jun Qtr results are quite on the opposite side of the expectations. This along with new's that impacting the short-term sentiment, might triggered the profit booking or sell-off.
If someone tracking this, should observe the [weekly] close below 50-wEMA.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.