Thursday, December 5, 2019

Diamond : Technical View : 06.12.2019

Diamond : Technical View : 06.12.2019

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On an hourly chart, the price closed with negative note during the last session.

Moreover, It has sustained below the 21*50 days SMA’s and Parabolic Sar, which signifies power to the bears.

Furthermore, the price has sustained below the Falling Trendline, which adds pressure in the counter.

Momentum indicators RSI has crossed below 50 level, which indicates bearishness.

As per the above technical structure; we expect bearish move in the counter.