LOTCHEM Lotte Chemical Mid Term Analysis 24 Nov. 2015

November 24, 2015 9:23 amComments Off on LOTCHEM Lotte Chemical Mid Term Analysis 24 Nov. 2015Views: 958

Upside Prevails

Our Pivot: 5.51

Our Preference: Buy LOTCHEM above 6.41 and average it out till 6.22 with strict stop loss of 5.51 and profit target at 7.45 with extension towards 7.90.

Alternate Scenario: Closing below 5.51 will call for 4.94.

NOTE: LOTCHEM is getting support from a rising trend line along with a horizontal supportive area. Weekly Stochastic also have generated crossover so its recommended to initiate new buying on given prices.

Recommendations:

Buy above 6.41 and average out till 6.22 with target at 7.90

Weekly Chart with Supports and Resistances:

LOTCHEMW24112015

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