Reversal is hereMultiply is in a strong down trend for ages now, people are tired to see it RED on daily basis although its one of the top traded stock with solid fundamentals but still its struggling. For now we can see some fresh signs of reversal right at 2.45 area still this is not a uptrend there are chances it may hit the resistance get rejected and go below 2.45 I am expecting a double bottom chart pattern once it hits the resistance and comes back for a correction. For now early bird entries can be planned with quick exits for short term gains.
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Multiplystockprice
Can start a trendThere are good chances from current level multiply can start a new trend to the upside, if geopolitical scenarios are settled this stock can rally very quickly specially after disclosing there positive financial results this stock didn't perform due to the same reason but with todays closing we are getting some sort of indication that buyers are again getting activated.
Although this can be a short recovery, i am expecting it to go a bit higher from current level and then come down from a small correction to start a fresh trend to the upside.
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This is YummyFor now multiply is looking very positive , after the strong move to the upside its correcting and i think its taking a breather before it makes another violent move tot he upside. If we look at the weekly chart it have broken the range already and now it seems like its just taking a pause above the support zone. Last three candles are bullish we can see buying pressure coming in clearly indicating bull are defending zone.
Once we see a solid breakou t of 3.65 with big volumes I think we will see 3.80-4.00 very soon. Multiply is very strong fundamentally with rich cash flows and its also investing in other profitable companies which will bring in moolah.
Multiply is once of the top traded stock in Abu Dhabi Securities Exchange and I think very soon this stock will be above 4.00
Nice Bullish MoveIt had a fantastic run last week and i made good profits trading this stock. We will get another buying opportunity if it comes around 1.90 zone as its a support area. I would like to see bullish momentum in this zone and pull the trigger. We can get good target with good risk management. Over all this stock is bullish keep stalking for a right setup.
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