CONCOR Weekly Chart Signals Bearish Trend After Head & Shoulders Breakdown
Container Corporation of India Ltd. (CONCOR) is showing signs of weakness on the weekly chart. The stock appears to have formed a Head & Shoulders pattern, which is generally considered a bearish reversal pattern. Price has already moved below the neckline support, indicating that the long-term uptrend has lost strength.
Momentum indicators are also supporting the negative view. The RSI has failed to make new highs, showing weakening momentum, while the MACD remains below the zero line, suggesting that buying interest is still limited. Volume has gradually declined after the formation of the head, which is in line with a typical topping pattern.
- Targets: 426 – 400
- Long-term targets: 360 – 326 – 300
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no sell but still buy slow
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Good report. What’s your analysis now?