May 16, 2019 / 4:59 AM / 2 months ago

BUZZ-India's Cadila Healthcare at over 4-1/2 year low; chart points to more downside

** Shares of Cadila Healthcare Ltd fall as much as 4.2% to 249.5 rupees, lowest since Oct. 1, 2014

** Stock breaks below a support at 255.92 rupees, the 76.4% Fibonacci projection level of the downtrend from Sep. 10, 2018 high to Feb. 15, 2019 low(wave 1) tmsnrt.rs/2Ec0Rsa

** Stock’s wave pattern suggests, it is in the third wave, typically the longest wave of a five-wave downtrend

** In the near term, stock has support at 243.27 rupees, the 86.4% projection level

** Trend intensity(TI) indicator rises to 36, suggesting a strong downtrend for the stock, MACD is negative and below its signal line

** Stock is down 25.3% this year as of last close, while the broader NSE Index has gained 2.7% in the same period (Reporting by Gaurav Dogra)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below