Buy CUB above 182 with a short term holding target of 215
The stock has been under secular uptrend over past two years. Currently highs in the 188-193 zones, the stock has been consolidating in a sideways move over past couple of weeks. The prices have attempted a breakout and is set to assume its up move again. The Weekly MACD has reported a positive crossover and it is now bullish while trading above its signal line. A buy signal has also emerged on the Weekly Charts over Stochastic with a positive divergence against the price. On-Balance Volume – OBV has also marked afresh high which is bullish. RSI is seen breaking out of a formation and we can see the prices marking higher levels over coming days. Any move below 170 will be negative for the stock.
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