{"id":10154,"date":"2022-09-13T15:13:28","date_gmt":"2022-09-13T09:43:28","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=10154"},"modified":"2022-09-13T15:16:37","modified_gmt":"2022-09-13T09:46:37","slug":"metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/","title":{"rendered":"Metropolis Lab: Seems the Counter Is Done With Testing and Poised for Better Health Soon!"},"content":{"rendered":"\n<p>It\u2019s been more than a month since the indices have consolidated, but the stock-specific move has continued. <a href=\"https:\/\/www.tickertape.in\/stocks\/metropolis-healthcare-METP?checklist=pro&amp;utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" target=\"_blank\" rel=\"noreferrer noopener\">Metropolis Lab<\/a> has taken my attention as it\u2019s available at the bargain buy level. Herein I share my technical view on the counter.\u00a0<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Weekly-Price-action\" title=\"Weekly: Price action\">Weekly: Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Weekly-RSI\" title=\"Weekly: RSI\">Weekly: RSI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Weekly-Fibonacci\" title=\"Weekly: Fibonacci\">Weekly: Fibonacci<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Weekly-MACD\" title=\"Weekly: MACD\">Weekly: MACD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Daily-Price-action\" title=\"Daily: Price action\">Daily: Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Daily-RSI-MACD\" title=\"Daily: RSI &amp; MACD\">Daily: RSI &amp; MACD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Daily-Ichimoku\" title=\"Daily: Ichimoku\">Daily: Ichimoku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/blog\/metropolis-lab-seems-the-counter-is-done-with-testing-and-poised-for-better-health-soon\/#Putting-it-all-together\" title=\"Putting it all together\">Putting it all together<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Price-action\"><\/span><strong>Weekly: Price action<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/5fFkr6OzfQ2RZBlPV9uIA6NwHgee9Z8I2ysMbf4VW4mIFPwjJm4IPjHEOYcKRQKwvodzQ8N9WdEQheMyW8YO88czPDMUQcbgCGqK1tixz9YxF6FxrT5mpeJKZMsZYI_VUzXSqueq1Exjb_Vr7Iy4fRXsKABK9P7u297KfI89K-ikiqhPtIo7UKbz2klkcE5YHhYjow\" alt=\"\"\/><\/figure>\n\n\n\n<p>Since its inception in April &#8211; May 2019, the counter has maintained its higher top higher bottom formation. The counter witnessed a sizeable correction from 3400 to almost 1400 levels, but the trend is still maintained (highlighted with a yellow trendline). After consolidating for nearly 3 weeks, the counter has shown a bounce now, respecting the trendline, making it a super bargain buy positional trade.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-RSI\"><\/span><strong>Weekly: RSI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/5B5Xt7qsaorduXbMBpIZK5vinPOu0ZFtehXeJP1lXFU4c_u4c62dHd5jBNqU41kSHw2UtgCh5XoiqbsqBlAW55i3KhU9385rj9kfjlXipxm7W4NOZEfzualg70Wn3ay7mdkLKoWISbjC9w0mUkQRCW8p8lx9BJG6LGBfgvBVigarB0mF5I_cLKH1LERxbOcFHuHGqw\" alt=\"\"\/><\/figure>\n\n\n\n<p>On such a higher timeframe, when the price is making higher tops and maintaining its trend, <a href=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/\" data-type=\"post\" data-id=\"5668\">RSI<\/a> is making lower bottoms and creating Bullish hidden divergence. In the most recent formation, where the price is making lower tops, RSI is making higher bottoms, creating bullish divergence. The counter can resume its main bullish trend anytime soon.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Fibonacci\"><\/span><strong>Weekly: Fibonacci<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/1NDLYpBqWGevQ512F3X3QIQ_0VGZ1pp23DWw6rsMELqXg7SWWmeKYL17fUbsixkTADgtmlWDWyFp4CQCUQvBWQM9SoOE_3xSCCa-oqjf1M5OmhKvUdI39aloPYqm4CBP8Tn3Twf9_4sZmdLlbdEraxXqfRFSZlNHjNho-bE7yYYZQZdmSdapTEMNr5apRnBbnMXRmg\" alt=\"\"\/><\/figure>\n\n\n\n<p>From the extreme lows of 2020, when the counter peaked during October 2021, the rally was strong and considered for retracement levels. The recent brutal correction of almost 61% from the peak halted at 88.6% of the last advance, offering the best bargain buy opportunity for the counter.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-MACD\"><\/span><strong>Weekly: MACD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/YR9bNkPVIab56UlxrvIQVZQOQyIL-X14jPuFK7oKEj-ujZwysG17Q2twPVRJJM1_k6pVFkdElDXtGASGApX09jE5tsNNigiyfeViCzg7HdQCXp4L50tIwL3eDnMxLS1E-l1-GWgFXwJFjNLIu38jfg4bJYhxVw1KTQvgPRfnGH22nG7K5R5Uu2eLm-JkGfm6PI_U_A\" alt=\"\"\/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/\" data-type=\"post\" data-id=\"5365\">MACD<\/a> is a lagging indicator that confirms the trend after it is set. There are multiple ways of looking at <a href=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/\">MACD<\/a>, one of them being crossover. The MACD remained above the zero line for quite some time and then fell below the zero level. First time since then, it has given positive crossover, calling for the first attention to the turnaround story.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Daily-Price-action\"><\/span><strong>Daily: Price action<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/eLf_vcO4kLZCxtzls8Ks8KswwEuMKkU6mS_14jDCE9Zo3plvi5qndrQ4lCN_AA_7Ln_c3mGYSkcHLXfpyT6oDqDmz-QmK4JkwEMdaXIrljZ5B62fXmmCjQaH8wiDC0uXg-Jf9nZLNyBi9EJbMJCl2sMdxJYcKrNz85PISBhixKqmqkJQ4kllO-atF2NEHTiPMhHccA\" alt=\"\"\/><\/figure>\n\n\n\n<p>Let\u2019s now analyse the counter on the lower timeframe. Price has declined steadily and still making lower tops and lower bottoms. But the interesting fact to note here is that the fluctuation has come down significantly over the past couple of months. By connecting the recent tops and bottoms, the formation of the falling wedge is getting highlighted. The formation is bullish in nature and the final leg of the formation is also getting volume activity, suggesting a breakout anytime soon.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Daily-RSI-MACD\"><\/span><strong>Daily: RSI &amp; MACD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/6l8MeXXQX1MBgJj6FiE4NMgYoGeUIKR5fSR1mUCIADfEdAP4IqYAfa22Fx7DJItT3FEteHsKBU1kyHH0KdtSrA98zhwlpU5gLUi_RGHMjQVwHttpD52lKwv0fACR_ng_oMTQ31fcP64aSR6dBPpYQhkCrFrqruJxyiD0JF54dRTCL0G_WnSQ9gIPecElLhcFwQrg8w\" alt=\"\"\/><\/figure>\n\n\n\n<p>One momentum and one lagging indicator together on the daily chart. RSI is making higher bottoms when the price is forming lower bottoms, confirming bullish divergence. Bullish divergence is also seen on MACD, which is another way to read MACD. Crossover &amp; zero line crossover is almost on cards for MACD, making it a clear go for the counter.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Daily-Ichimoku\"><\/span><strong>Daily: Ichimoku<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/d6Ze2dtziPcBbawCY-cp2Dx4_13HXijqKgiZeRvQbaWKo-9CVp2W9zQWp39XdUvEOceR0DDkh63O-w0MC0AQjkMgF4mfHh2fLy3xDkqBHCIQSndVDNuCQTkBC8vOTymV5izlFvWBWhlhVdExPm572R1jFyvfDemNfkeEw5e8jU_w9MH4ChwRxfMSmz89jMzp8Z-l3A\" alt=\"\"\/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/\" data-type=\"post\" data-id=\"5946\">Ichimoku<\/a> is a trend-following indicator. There are many ways to apply indicators for trading use, one of them being cloud breakout. After forming the peak in 2022, prices declined sharply and swiftly below the cloud and have remained lower since then. The most recent formation shows the future cloud getting narrow and thin. Price, on wedge formation breakout, may even break above the cloud and confirm the trend reversal soon.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Putting-it-all-together\"><\/span><strong>Putting it all together<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Price near massive long trendline on the weekly chart with hidden bullish RSI divergence, making bottom near 88.6% of the last advance (62% correction from the top in price), first-ever MACD bullish crossover on the weekly chart, falling wedge with good volumes and bullish RSI and bullish MACD divergence on daily charts is making counter an attractive bet. A falling wedge breakout alongside the Ichimoku breakout can first confirm a bullish trend on a lower timeframe. It is worth keeping an eye on the counter due to so many favourable observations.&nbsp;<\/p>\n\n\n\n<p><em>Statutory disclosure: Kindly note that this update is only for educational purposes. It is safe to assume that my personal position, my fund\u2019s position, my client\u2019s position and my relative\u2019s position may be open at the counter. Prefer to take the advice of your financial advisor before initiating any position.&nbsp;&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s been more than a month since the indices have consolidated, but the stock-specific move has continued. Metropolis lab has taken my attention as it\u2019s available at the bargain buy level. Herein I share my technical view on the counter.\u00a0<\/p>\n","protected":false},"author":73,"featured_media":10167,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[1723],"tags":[],"acf":[],"modified_by":null,"jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/09\/13-sep-22-Metropolis-Lab-Seems-the-counter-is-done-07.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/10154"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=10154"}],"version-history":[{"count":3,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/10154\/revisions"}],"predecessor-version":[{"id":10169,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/10154\/revisions\/10169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/10167"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=10154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=10154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=10154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}