Coal India – 14.02.2018.

Daily Sentiment: Bullish.

Weekly Sentiment: Bearish.

Trend Strength: Moderate

First Target: 311 (Resistance zone)

While COALINDIA holds inside this channel First Target will remain 311.

BUT! There are few things that make worry about this stock right now.

As you see, for now COALINDIA is not able to clear this 311 level.

Second, more important, last month stock was not able to close above Monthly resistance.

That makes me think it could hit all time lows once again.

Actually, I think only close above this Daily channel can save bulls.

There is channel resistance, Daily and Monthly resistance zones, all together they are serious force and strong argument why bears could regain control once again.

Close below channel would confirm fall towards 262 Support zone.

Close below it and next stop will be all time lows.

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2 thoughts on “Coal India – 14.02.2018.

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    1. Sentiment doesn’t show what happens now. Sentiment shows what happens in bigger picture. Daily Sentiment will remain Bullish while stock holds inside channel. Fall inside uptrend is only correction. Close below channel is what is needed to change Sentiment.

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