TCS among 6 stocks signalling downtrend as MACD slips below zero
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Trend Tracker
MACD or moving average convergence divergence is a momentum indicator. The metric shows the relationship between the 2 moving averages of prices. For calculating MACD, 26-day EMA is subtracted from 12-day EMA. Further, a 9-day EMA of the MACD called the signal line, is plotted on the top of the MACD, which provides a likely trading strategy in a stock i.e. a buy or a sell.
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Significance of the MACD going below 0
In case the MACD heads below zero, then a bearish signal is flashed on the counter. This may be a time to sell. So, here are the counters with m-cap over Rs 10,000 crore hinting at a downturn going forward. Note the data is from the previous session as today’s data is updated EOD. (Source: StockEdge)
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United Breweries
MACD as on August 29: -0.35| Last close: Rs 1526.65
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Aether Industries
MACD as on August 29: -0.23| Last close: Rs 1044.7
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TCS
MACD as on August 29: -1.72| Last close: Rs 3376.15
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Devyani International
MACD as on August 29: -0.04| Last close: Rs 191.2
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The Great Eastern Shipping Co.
MACD as on August 29: -0.3| Last close: Rs 752.15
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Syngene International
MACD as on August 29: -0.48| Last close: Rs 768.5