Looking at the HDIL chart, the move from 52 low to 128 levels was a 61.8% retracement. Now the price has started coming down with decrease in volumes and has taken support at the 23.6% level of 81.25. However, if price heads lower with increasing volumes then there will be a divergence and could results in price moving down faster. Again, if volumes continue to drop then price will drift lower slowly.
No comments:
Post a Comment