July 24, 2018 / 4:49 AM / in 4 months

BUZZ-India's Hero MotoCorp hits 1-1/2-year low; chart suggests further downside

** Shares of Hero MotoCorp Ltd fall as much as 4.2 pct to 3,033.75 rupees, their lowest since Jan 16, 2017

** Stock breaks below a support at 3,174.58 rupees, the 50 pct Fibonacci retracement level of the uptrend from Sep 7, 2015 low to Sep 1, 2017 high reut.rs/2LiHRhf

** This suggests, stock may fall up to the next support at 2,958.08 rupees, the 61.8 pct retracement level

** Trend Intensity (TI) indicator rises to 21 suggesting market is trending downwards

** MACD is also negative and below its signal line

** Stock down 16.4 pct this year as of last close, while the broader NSE index is up 5.3 pct in the same period (Reporting by Gaurav Dogra; Editing by Gopakumar Warrier)

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