Comments
We recommend a buy in the stock of Thomas Cook from a short-term perspective. The stock was in a corrective mode since the peak at Rs 76.5 recorded on October 10. But this decline halted towards the end of August and the stock is attempting to move higher since then. The stock broke free of its 21- as well as 50-day moving averages on Wednesday. The volume recorded was also higher than the average over the last three months.
The relative strength index in the daily chart is attempting to move higher into the bullish zone implying short-term strength. The stock also recorded a two-month high in the last session. Traders can buy the stock with stop at 60.9. It can move up to Rs 63.4 or 65 in the sessions ahead.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.