Trading Signals WELLCALL ( P7231.KL) ENTER ABOVE 2.71 : TARGET 2.86

WELLCAL is following long term uptrend. It has consolidate by taking support near 2.48. It is having its resistance at 2.71. It is expected to breaks its resistance of 2.71 and move up to the target of 2.086. Live Trading Signals 

It is currently consolidating in the range of 2.48 - 2.71. Looking at its previous trend, it is expected to go up to 2.86 in short term.

It is technically strong counter supported by RSI, MACD and other technically indicators which are giving a strong signal of bearish trend ahead. Its a nice opportunity to buy above 2.71 and gain a considerable amount of net profit in contra.

Technical Justification

Looking at it technically WELLCAL took support at 2.48 and is moving in the range of 2.48 - 2.71. It is consolidating and is expected to take uptrend in near future. It has been increasing with consolidation looking from the previous trend. Its near term support is at 2.56. As soon as it breaks this resistance it is expected to move up to our target price of 2.86 in contra.

MACD - MOVING AVEREGAE CONVERSION DIVERSION

MACD is supporting the uptrend of WELLCAL. Looking at the simple moving average, the fastest moving average curve has crossed slow moving curve from the bottom and is moving up, this is a signal of uptrend in near future. The price line is currently at 0.002 and signal line at 0.015. As soon as the fastest MACD crosses the slowest MACD, a strong buy signal can be seen. Entering above the resistance level of 2.71 is advisable.

BOLLINGER BANDS

The price line has touched the lower band and rebounded. It is expected to follow uptrend and cross middle band in near future creating a strong buy signal.

RELATIVE STRENGTH INDEX

RSI is near 50 , currently at 49.165. Which indicated that the investors are buying the counter and hence it is expected the price would take the uptrend due to buying pressure.

TRADING VIEW

Trading should be calculative and done at correct levels. It is very important to make entry and exit at right level. An investor should always enter above the resistance level and should close his position as soon as the price has achieved the target or has hit the SL (stop loss). The entry level of WELLCAL is above 2.71 with SL of 2.56 and target price of 2.86 / 2.90.