Hero Motocorp Move Past Strong Support Zone
- Shares of Hero MotoCorp were trading lower for the twelfth straight day on its daily chart and tested a new 52-week low on 28th March 2019.
- The stock is witnessing continuous lower top and lower bottom formation and currently moved past a strong support zone at 2600 level.
- The level of 2850 will act as a resistance zone.
- On the indicator front, the stock is well placed below its 21-days moving average.
- The stock has broken below the 2560 level however the stock needs a high-volume breakdown to confirm a big down side rally.