- Weekly chart of CNX-IT shows an ascending broadening wedge. This is a bearish reversal pattern. One can look to go short once the supporting trend line gets broken.
- Weekly chart is also showing an important trend line getting broken.
- Daily is trading below 50 day moving average.
- So its looking negative for leading IT stocks. It can change if price in daily chart tries to move above 50 day moving average again.
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