Hi,
For lat 2-3 days, IOC is in uptrend and made a new high at 385. But its MACD is at 4.75. But IOC made a high at 386 on 8th April 2015. At that time, MACD was at 8.66. As per my knowledge, if stock makes a new high and MACD is not making a new high means, the uptrend is going to over in a short time. But IOC is still in uptrend. Could anybody please clarify this? Thanks in advance.
Posted the image here for reference, http://postimg.org/image/5rjfdmpzp/
- mlg
For lat 2-3 days, IOC is in uptrend and made a new high at 385. But its MACD is at 4.75. But IOC made a high at 386 on 8th April 2015. At that time, MACD was at 8.66. As per my knowledge, if stock makes a new high and MACD is not making a new high means, the uptrend is going to over in a short time. But IOC is still in uptrend. Could anybody please clarify this? Thanks in advance.
Posted the image here for reference, http://postimg.org/image/5rjfdmpzp/
- mlg