EXIDE (Ready to Breakout ?)Exide Industries has formed a triangle and is testing the upper end of the same. The stock hasn't recovered much post the pandemic's fall. Any breach of the upper triangle line might give rise to a new trend in the stock. A normal uptrend consolidation continuation pattern.
The moving averages are in a compact position as well with the 50 EMA below the 200EMA line (Red and Grey one respectively). Any crossover of the moving averages followed by a breakout with add further fuel to the fire to keep burning.
Times are looking uncertain by the day. A lot of good and bad news flowing in from every possible corner. Markets might start getting volatile yet again. With the wait for Pfizer Vaccine on (Gone into FDA review as of Friday) the market will be affected by other news more. Around 8th of December the FDA review team will be putting forward its observations and agenda for the meeting on the 10th of December. The market will be actively looking out for such things and any negative news from that end will surely send the world market at a downward spiral. However further approval of the same might give another lift to the market.
So Trade with Caution.
