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Hero weekly chart analysis

We all know Hero MotoCorp Limited. It is the leading player in bikes in India and is a very fundamentally sound company. While going through chart studies, I found a very interesting chart pattern in Hero which shows that the stock may start an upward journey.

The Red Lines show a clear downtrend on the chart. However, just the previous week, you can see a bullish green candlestick that has formed and the stock has clearly broken out from the downtrend. This chart has been showing bullish signs for weeks and now it looks even better for long term.

Disclaimer: Chart and Stock shown for illustration and discussion purpose only, please do your own due diligence before investing/trading.

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