When one combines basic price patterns and price indicators, it can lead to interesting results! See for yourself how we were able to capture such a significant move in Neogen. Take a look at how we chose Neogen, a momentum stock that has rallied by more than 14% in a single day from the lows.
We published Neogen in "Vayu Momentum report" on 20th September 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
NEOGEN Daily chart Anticipated as on 20th September 2024.
Analysis as on 20th September 2024
NEOGEN showed a sharp rally in the previous session of more than 15.45% in a single trading day! The stock is moving in a rectangular range over the last few days indicating accumulation in the stock. A weekly close above 1930 will confirm the breakout of the said pattern. MACD is above 0 and the MACD line crossed above the MACD signal line which indicates that bullish momentum has increased in this stock and may continue in the coming session.
Key Resistance: 2370
Key Support: 2050
Strategy: Use dips towards 2140-2160 as a buying opportunity for a move towards 2350-2370 levels as long as 2050 holds on the downside.
NEOGEN Daily Happened Chart as on 10th October 2024
Happened. The stock moved as we had anticipated. Neogen gave a breakout out of a consolidation with huge volume which was a bullish sign. After a dip, prices moved as expected and witnessed a sharp rise, gaining more than 14% and achieved both targets on the same day itself.
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