After governments announcement of FDI in aviation most of airlines stock jump,even high debt Kingfisher moved from 7.40 to 14.15 with in few days,So question is ,SHOULD I BUY it now or we will get much cheaper coming months ?
Let see chart
After 7.4 low Stock made a sharp move to 11.9(first top),then it correct again but didn't gone below 7.4 ,indicator started diverging (not in graph),then it made a new high of 14.15 ,now there is news floating about 6.6% stake sale of KFA to a foreign carrier ,so it can move even to 17-18 levels.Chart shows a resistance band of 18-28 it will be breaking only after a conform news from company .(On Sep 26 there is AGM also).Value buyer will come in to counter above 28 levels. Speculator who taken stock from lows will sell it near 20-28 levels.
Let see chart
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