Monday, November 15, 2010
Another possible breakout in Hanung Toys
The stock which I found out at Rs. 120 odd levels around 6 months back now trading at Rs. 400. Now question is not about the finding the stock or price discovery or for that matter stock discovery. Question is price movement along with other technical indicators like volume, MACD Moving Average Convergence & Divergence), RSI (Relative Strength Index) & etc.
As I marked in above graph, every time stock breaks out of consolidation range it moves with large volume with movement in MACD or RSI or Stochastics. So you need to look at all possible angles before you jump into or out of the stock not just by looking at stock price movement.