Stock Market Prices| Bullish engulfing seen for Carol Info
CAROL INFO SERVICES LTD
Nov 18 - Close
Carol Info is currently in the accumulation phase. The stock has been in a downtrend from September. The stock entered the accumulation phase by the start of October. Now the reason why this stock has come under our scanner is basically because we have witnessed a bullish engulfing recently(Nov17th). If the stock starts a new upward movement which is strong enough to change the slope of the 9-day MA to positive from flat, then things would look a little more interesting.
So as a trader watch the stock to see if the slope of 9-day MA changes to positive. Also look for high volumes. Upward movement on strong volumes are affirmations that the uptrend would last longer. If you see the stock moving up on high volumes then enter into long position as soon as possible.
Kindly note that the advice we provide are based solely on technical analysis. There are thousands of factors that can affect the price of a stock. So do not rely solely on our tips. Please do listen to news and also perform your own analysis to determine whether you should enter a position or not. We would not be held accountable for any loss you might suffer in process of trading. The above are for information purposes only, trade at your own risk.