#COTIUSDT The price is pulling back to the support area after completing the AB=CD pattern, we expect the price to move upwards from the green support area and continue its upward trend to the descending trendline. If the trendline breaks, we can set a target for higher prices.
#COTIUSDT The price is pulling back to the support area after completing the AB=CD pattern, we expect the price to move upwards from the green support area and continue its upward trend to the descending trendline. If the trendline breaks, we can set a target for higher prices.
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
