Zee Entertainment Limited Stock prices surged sharply during Thursday’s Trading Session.
So far, share prices have gained up to 30% since the beginning of this month. Shares have rallied from 220 to 300 within a couple of weeks.
When we put Price Action in a proper context, we can clearly notice the signs of Structure changing from an Intermediate Downtrend.
Momentum has strongly picked up in Stock prices. Take a look at the Price Action Outlook on 5h Chart
Zee Entertainment – Price Action Analysis on 5h Chart
We can notice Price Action changes from Structural Downtrend, as the recent sharp movement in Stock prices indicates a potential trend change.
Buying pressure is quite strong and momentum has picked up sharply on the upside as a result.
Coincidentally, even the volume has been increasing for the last couple of weeks, which is an indication of strong order flow in Stock prices.
Based on all these factors, we can clearly see the signs of Trend Reversal in Zee Entertainment Ltd.
Traders should keep an eye on the Price Action on the 5h Chart, as we might get good trading opportunities on the Stock in the coming days.