Dead cat bounce effect on Asian Paints

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On 19th Feb 2020, the share price of Asian paints reached its weekly high of Rs.1884.90 which started falling from that trading session. The price of Asian paints have been falling +for past one week which has shown a downward trend in their price. With the help of Parabolic SAR, the support and resistance of the share price movements can be found with the combination of Moving Average(50). The following chart shows the trendline of the price movement and also the price of the share has touched the Moving average which depicts the bearish signal for the stock.


The above graph also shows that the downward trend of the stock has just started and it would continue for few trading sessions as the pSAR indicator is portraying bearish trend and also the previous trading sessions have been bearish for the stock.
Despite of the downward price trend of the stock, the Awesome Oscillator indicates that the price of the stock would rise and there would be a change in the trend of the stock price as it is a dead cat bounce effect i.e., the price of the stock would increase eventually in the upcoming trading sessions. Over the past years the company has seen price movements and the share price has been increasing rapidly with an upward trend.
The ichimoku indicator also suggest that the price of the share would increase after few bearish trading sessions which is a temporal drop in the price of the share. The candlesticks are above the ichimkou cloud which indicates buy signal and also the cloud support the rise in price as it forms a green cloud. Also the base line is below the conversion line which indicates that the prices would fall in the upcoming sessions but eventually result in the increase of the share price.

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