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.