FEDERAL BANK DAY CHART SHOWS A H&S FORMED WITH NECK LINE AT 79. ALSO, THIS IS MULTIPLE BOTTOM FOR IT.
ALSO, THERE IS A "W" SHAPE BEING FORMED.
BASED ON THESE TWO, ONE MAY CONSIDER GOING LONG IN THE SCRIP FOR A TARGET OF 96 IN THE COMING WEEKS.
STOP LOSS MAY BE PLACED AT THE NECK LINE.
LONG IS SUGGESTED AS THE Q2 RESULTS ARE GOOD FOR THIS BANK.
ALSO, THERE IS A "W" SHAPE BEING FORMED.
BASED ON THESE TWO, ONE MAY CONSIDER GOING LONG IN THE SCRIP FOR A TARGET OF 96 IN THE COMING WEEKS.
STOP LOSS MAY BE PLACED AT THE NECK LINE.
LONG IS SUGGESTED AS THE Q2 RESULTS ARE GOOD FOR THIS BANK.