Can I enter D-Link as it has fallen considerably?
AVOID D-LINK INDIA FOR NOW
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.