L&T Infotech jumped to a new high as it paid no heed to the sell-off in the midcap and smallcap stocks. With the Indian rupee slumping to an all-time low against the U.S. dollar, technology stocks saw increased buying interest. The stock jumped 4.7% on heavy volume in today’s session.
Mention the word “flat” in a conversation about stocks, and images of dull, laggard performance come to mind. But that’s not necessarily the case with stock charts.
A flat base is one of the few reliable patterns that quality stocks form before making substantial price advances. While it may seem like a stock is going nowhere for weeks, it may be quietly winding itself up for a big climb. Continue reading “In A Flat Base, Dull Trade Can Be Positive Action”