Is the sun setting on SUN TV..?
After a brilliant run over the past 5 months the stock is seen gasping at higher levels. Despite its best efforts to revive there is not much participation seen. The two bar reversal coupled with the Fibonacci resistance has practically strangled the rise for now. The last two months have seen some profit booking and even in July there is a gradual profit booking been witnessed. A challenging time for a stock patronised largely by the trading community. If the recent low breaks it offers a good opportunity for a positional short for derivative players.
After a brilliant run over the past 5 months the stock is seen gasping at higher levels. Despite its best efforts to revive there is not much participation seen. The two bar reversal coupled with the Fibonacci resistance has practically strangled the rise for now. The last two months have seen some profit booking and even in July there is a gradual profit booking been witnessed. A challenging time for a stock patronised largely by the trading community. If the recent low breaks it offers a good opportunity for a positional short for derivative players.