HINDALCO: METAL TO METTLE?Hey There, Welcome Back.
We are not big fans of industries that are on the commodity (Raw Material) side of the value chain, But for those who don't mind, Here is everything you should know about Hindalco.
- A support trendline has been pushing the price up
- An ascending triangle was formed with the recent 6M consolidation
- A breakout candle broke both the AT Range and crucial resistance zone
- The breakout came in as a Bullish engulfing that adds to the positives
- Overall for the last 15 months, the price has been sideways
- If you draw a resistance line from top, We saw a breakout of that too. Not the most reliable trendline, but it still adds to the analysis
- Price is nicely above 200EMA
- Previously the price failed to sustain the 500 mark. What will it do this time?
Have Insights or Questions? Let us know in the comments below.👇
While you do that, how about a boost for some motivation🚀
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
