AegisChem RSI divergence Stock has a breakout, reasons for long:
1. Flat top, symmetrical triangle, or even poll and flag breakout 2. Increase in volumes 3. High risk to reward ration 4. Started with a huge RSI divergence
hi we should not see what we wanted to see instead we must see as it is.. there is no divergence in 1 htf for that matter ...we should not take a trade here and other aspects of your tech analysis are correct though...aegis ,,,all its recent bounces are only dead cat bounce nothing else..
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@Lathashakthi, Agree, Hourly divergence happened in mid Nov. A huge bounce from there and later a bull flag patter breakout. It returned from its OCT resistance of 250. I still see it will bounce back from 200 to 210 as that is the demand zone on multiple time frame. I will accept this to be in a long term down trend below 190 on a daily closing basis! Lets see how it performs in future as most the stocks are under pressure due to market being bearish! :) Stay connected, can get to learn from each other in future.