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THE ORGANIC MEAT CO LIMITEDTT

THE ORGANIC MEAT CO LIMITED

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TOMCL trade ideas

TOMCL Train has started Leaving Rest Area.The Organic Meat Company, after hitting the bottom rock started surfacing again. After crossing the price level of Rs. 23 it retraced to 0.38 level. For the last two days it has been printing the green candles which is a good sign for bulls. Yet another point in bull's favor is the crossing of RSI over its MA. We are expecting some intraday pressure, otherwise closing price may be considered as entry point. For your convenience SL & TP has been marked on the chart. Have a profitable trading.
PLong
by usufgul
TOMCL - Testing Break Down LevelTOMCL - Testing Break Down Level TOMCL Technical Analysis Overview: TOMCL is currently undergoing a critical testing phase, as it grapples with a bearish trend spanning nearly two years. Investors are advised to exercise caution and remain vigilant regarding key price levels. Immediate Support at 21.40: It's important to note that a sustained trading position above the 21.40 mark is essential for potential positive momentum. Investors should closely monitor this level. Inner Channel Vulnerability at 19.77: Should TOMCL breach the inner channel support at 19.77, there is a likelihood of a price test at the 18.00 level, which aligns with the parallel channel support. Further Downside Risk: A breach of the 18.00 level may open the door to a significant downward correction, with potential targets at 15.20 and 14.60. Bearish Divergence in Indicators: It's worth noting that indicators are displaying a bearish divergence, further underscoring the cautious sentiment surrounding TOMCL's current trajectory. In summary, TOMCL is facing a critical juncture in its price action, and investors should closely monitor the key support and resistance levels outlined here. Prudent risk management and vigilance are advisable in light of the prevailing bearish trend and bearish divergence in indicators.
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by tradeflowadvisors