Anchored VWAP Study of Glenmark Pharma
[May 22, 2020, Friday EOD analysis]
Anchored VWAP Analysis self explanatory in Chart. Additional Pointers:
- Range Breakout in place
- Breakout accompanied with Expanding volume signaling the Range was an Accumulation Zone
- Stock is also above 5 day EMA , 20 day EMA, 50 day EMA, 65 day EMA (ALL are Sloping upwards and above each other respectively)
- ADX is above 25 on daily chart (trending)
Concern:
-200 day EMA is Sloping down but stock price is above it
- 100 day EMA is above 50 & 65 day EMA but sloping up
Key Target Levels:
1) 370-75
2) 385
3) 399
Anchored VWAP Analysis self explanatory in Chart. Additional Pointers:
- Range Breakout in place
- Breakout accompanied with Expanding volume signaling the Range was an Accumulation Zone
- Stock is also above 5 day EMA , 20 day EMA, 50 day EMA, 65 day EMA (ALL are Sloping upwards and above each other respectively)
- ADX is above 25 on daily chart (trending)
Concern:
-200 day EMA is Sloping down but stock price is above it
- 100 day EMA is above 50 & 65 day EMA but sloping up
Key Target Levels:
1) 370-75
2) 385
3) 399
Nota
correction: It is 200 day MA & not 200 day EMA which I was referring toTalking about the 200 day EMA:
- the stock price is below it and facing stiff resistance at it since the range was created
- 200 day EMA is also downward sloping
Trade fechado manualmente
WILL not be Updating this Idea further...
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.