I disagree. I studied TA and technically the stock is not in a downtrend on the Daily Chart. It is in consolidation range.
As for the chart on a Quarterly timeframe (where you see the high's in 2000) there is no clear downtrend as defined under TA as there has not been a lower low after mid 2003. You could argue there was a lower high in mid 2006 hence we need a lower low after this point. This has not occured. Nevertheless the timescale is not appropriate.
ITC Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
