June 5, 2015
- Nestle is putting up its highest volume week in recent times. If one looks on the left hand side there was a similar volume week in November 2013 But what's missing there is the large price movement. such negative price movement with big volume is likely to push the stock further downwards.
- Lets look at the crucial levels. Price for now is trading closer to an important support zone in 5635 levels. 2nd chart shows a weekly range. week closing into this range will be negative. Things will become weaker for the share if price falls below the range which is a bit far for now. Right now Nestle bulls must look for 5635. Sustaining above it may stabilise things for now But a weekly close below 5635 will push the stock towards the bottom of the range.
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