Civmec (technical)

Civmec: The counter broke its mid-term downtrend on 16 Sep. On the near-term, counter seems to be losing its strength on the upside provided by the widening ADX up/down bands, and may consolidate around the $0.72-$0.87 region, supported by the declining Stochastics towards the oversold region. Potential investors might hold out until the counter moves towards its near-term support at $0.79, or the bottom of the range at $0.72.