Thursday, May 31, 2012

Deccan Chronical Technical chart | 01-June-2012

Below is the technical chart of Deccan Chronical Hold Ltd. stock, listed on Indian stock exchange, using Ichimoku kinko hyo indicator.

In Nov. 2011, the price of Deccan Chronical share have sell signal as the price closed below kumo. Chikou-Span (CS) line also closed below kumo on weekly chart. (See above). That was the perfect example of bearish kumo breakout.

After that, it started its downward journey from about Rs.100 to the last closing @Rs.27. Still, there is no signal of positive sign in this chart. So, avoid this stock completely unless it closes above kumo again.

The above example will surely tell you the power of Ichimoku indicator.

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