November 5, 2013

Diamond Pattern of ITC

  • Fate of the Diamond is likely to be decided by the 200 Day SMA. It will be a Diamond top if price starts to trade below 200 Day SMA. Or a continuation pattern if 200 SMA acts as support.
  • Weekly chart shows price above the cloud. Long term trend of the stock will start to weaken on price falling into the weekly cloud.

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