- Wealth PMS
I asked on August 6 if Airtel was setting up for a technical sell, on a Bollinger band miss and a MACD crossover. Here’s how that worked out:
The stock is down to about 304 today.
I didn’t make much of the move – got out with a tiny profit, largely because I didn’t trust my own analysis. However, this is yet another example of a reasonable trade on this strategy, if you work with it. The exit will have to be a trailing stop or a MACD reversal, which still looks like a 320 level at least.
What’s setting up on the other side? BHEL seems
While the trade has not yet set up, the stock is up about 3% today at 111, and the MACD crossover will happen if the price closes here today. This stock has a gap around 136 which should resist and provide a target (As does the 20 DMA which will be there if the stock moves up).
Disclosure: No positions on Airtel. Bought a little “anticipatory” BHEL. (Fully intended)