NEOGEN Bang On- Two powerful indicators you cannot miss!
Oct 10, 2024
When one combines basic price patterns and price indicators, it can lead to interesting results! See for yourself how we were able to capture such a significant move in Neogen. Take a look at how we chose Neogen, a momentum stock that has rallied by more than 14% in a single day from the lows.
We published Neogen in "Vayu Momentum report" on 20th September 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
NEOGEN Daily chart Anticipated as on 20th September 2024.
Analysis as on 20th September 2024
NEOGEN showed a sharp rally in the previous session of more than 15.45% in a single trading day! The stock is moving in a rectangular range over the last few days indicating accumulation in the stock. A weekly close above 1930 will confirm the breakout of the said pattern. MACD is above 0 and the MACD line crossed above the MACD signal line which indicates that bullish momentum has increased in this stock and may continue in the coming session.
Key Resistance: 2370
Key Support: 2050
Strategy: Use dips towards 2140-2160 as a buying opportunity for a move towards 2350-2370 levels as long as 2050 holds on the downside.
NEOGEN Daily Happened Chart as on 10th October 2024
Happened. The stock moved as we had anticipated. Neogen gave a breakout out of a consolidation with huge volume which was a bullish sign. After a dip, prices moved as expected and witnessed a sharp rise, gaining more than 14% and achieved both targets on the same day itself.
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