DEN networks is currently trading below its 9-day Moving Average. From mid August to mid October the stock was above its moving average. And the slope of the 9-day MA was positive during that time.
The MACD Histogram favors the bulls. The recent fall in the histogram is not deep comparing to the fall in August. And looking at the recent uptrend, the stock should pull back up and move in the previous direction. Now as a trader what you have to do is wait for the slope of the 9-day MA to turn positive.
So whats your signal to go long?
Look for the 9-day MA to turn up and soon as it turns up enter the long position. Hold the position for a couple of days and sell it when the stock reaches a higher price.
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.stock tips