HCAR Honda Atlas Car Limited Mid-Term Analysis 25 Feb. 2016

Rebound Insight

Our Pivot: 218

Our Preference: Start buying from current price and add averages till 231 with strict stop loss of 220 and profit target at 262 and 271, closing above 271 will call for 292.

Alternate Scenario: Downward penetration of 218 will call for 211.

NOTE: HCAR is in an upward price channel and right now its getting support from supportive trend line of said channel along with a strong horizontal supportive region. Daily Stochastic and MAORSI are ready for a pull back. 

Recommendations: Start buying from current price and average out till 231 with target at 260 and 275.

Weekly Chart with Supports and Resistances: