Diamond : Technical View : 16.12.2019
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On the daily chart, the price closed in a positive note during the last session.
But, It has sustained below the 21*50 days SMA’s and Parabolic SAR, which signifies power to the bears.
Furthermore, momentum indicator MACD has breached below the zero level which is negative for the counter.
Momentum indicator RSI has crossed below 50 level, which indicates bearishness.
As per the above technical structure; we expect bearish move in the counter
But, It has sustained below the 21*50 days SMA’s and Parabolic SAR, which signifies power to the bears.
Furthermore, momentum indicator MACD has breached below the zero level which is negative for the counter.
Momentum indicator RSI has crossed below 50 level, which indicates bearishness.
As per the above technical structure; we expect bearish move in the counter