Can I buy Vikas Eco Tech to average and recover my position?
AVOID VIKAS ECO TECH FOR NOW AND EXIT BELOW RS 19
Vikas Eco Tech is currently trading at Rs 22.00. Its 52-week high/low stand at Rs 48.50/ Rs 18.50 made on January 4, 2018 and August 11, 2017 respectively. The stock has been trading with lower tops and lower bottoms since its 52-week high within the downward sloping channel pattern. Recently, after hitting the support at Rs 19, the stock is seen trading in the range of Rs 19-22. The movement is very little on a daily basis with volumes relatively low and the 14-period RSI at 50, which suggests lack of momentum. However, on the weekly time frame, the stock has support at the 200-period EMA. We suggest you to exit below Rs 19.