Today we are going to be analysing Curro Holdings.
Today we saw a rejection of the major support area at 4,400 and the posting of a spinning top doji candle which could be an indication of a short term bull trend. If the 4,400 support area holds up, the next target will be the 4,540 resistance area. A break through that resistance area could see the price heading to the next minor resistance area at 4,700.
If we break below the 4,400 support area the next target could be the 4,000 support area.
The 50 Day MA is still above the 200 Day MA which could be a sign of continuation of a long term uptrend but it does seem to be turning down and a 50 MA cross below the 200 MA, could lead to a sell-off and test of the 4,000 support area.
I would hold out on this stock and wait for a good entry point.
4000 – Possible Long Entry
5000 – Possible Short Entry
*All information in this article is the author’s opinion and is for educational purposes only. It does not constitute investment advice or a solicitation to buy or sell any financial instrument. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.