BECO long term analysis 30 Oct. 2023
BECO Steel recently broke out of a descending wedge pattern on its weekly chart, and it appears to be currently testing a key support level.
However, it's important to exercise caution when trading this stock due to its relatively lower liquidity.
The major support level is at 5.90 Rs, while the initial resistance stands at 9.37 Rs in the event of a rally. Unlike more liquid assets, stocks with similar breakout patterns may have already reached their double top, but BECO Steel's unique circumstances, such as lower liquidity, could limit its upward potential. Nonetheless, there is a possibility of price gaining momentum in the days ahead. Stay alert and trade wisely!
Key Levels
- Intraday :
- Daily :
- Weekly :
- Resistance-2:0.0000
- Resistance-1:8.3700
- Pivot :0.0000
- Suport-1:5.9000
- Suport-2:0.0000
- RSI :
- Stochastic :
- MCD :
- 1M Range :
- 3M Range :
- 1Y Range :
- 5Y Range :
- Published :2023-10-29 23:29:15
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