Monday, December 16, 2019

Diamond : Technical View : 17.12.2019

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