Can I en­ter D-Link as it has fallen con­sid­er­ably?

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - Man­ish Pan­chal


D-Link In­dia is cur­rently trad­ing at Rs 97.40. Its 52-week high/low stand at Rs 154/Rs 75.25 made on April 10, 2017 and Septem­ber 21, 2016, re­spec­tively. Con­sid­er­ing the weekly time frame, the stock has been trad­ing with lower tops and lower bot­toms. The stock at­tempted to break out of its re­sis­tance at Rs 145 dur­ing April 2017, but failed to sus­tain and dropped just above the prior sup­port level. The vol­umes are low and 14-pe­riod RSI is quot­ing at 43, which sug­gest lack of mo­men­tum for now. Con­sid­er­ing the daily chart, the stock is seen fol­low­ing a dou­ble top pat­tern be­fore down­ward rally and the cur­rent dou­ble top stands at nearly Rs 102 level. Hence, the stock may wit­ness an­other down­side if Rs 102 is not bro­ken on the up­side. We, there­fore, sug­gest you to avoid D-Link.

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