I see some sound technical uptrend for VPEL.N0000, If you closely look on VPEL technical chart, If it passed 9.10-9.20 levels today, it will be crossing 99 day aged trend line. Yesterday volume is considerable factor. Yesterday volume is more than 200%
of last 98 days average volume, As well as more than 1000% of last 7 days average volume. With this positive volume signals there is a moving average upward trend and RSI upward trend after two buying signals. Further, we have to consider dividend announcement 0.25 per share.
Also there are some cons behind predicted upward trend of VPEL.
· Still we can’t see trend line crossing or Moving average buying signal. We have only expectation.
· 500,000 volumes for VPEL is smaller amount when comparing with history
· We can’t predict short term trends of CSE
Thank you for joining with Share Market Statistics.
Happy Trading.
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