The Hourly View for VEDL
Currently, VEDL (Get Ratings)’s price is down $-0.02 (-0.19%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
VEDL’s Technical Outlook on the Daily Chart
Currently, VEDL’s price is down $0 (0%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as VEDL has now gone up 4 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Vedanta Ltd’s price action over the past 90 days can be seen via the chart below.
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The post Vedanta Ltd (VEDL): Price Now Near $12.85; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News.
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