It has been observed that there is a divergence in RSI in this stock. But surprisingly this stock is standing below the resistance line which was strong support sometimes back.
Here we are in two confusions.
or shall it take the declining parallel channel to go down.
The magic will show us by RSI regarding the direction which is secondary.
The Important thing is which way it will be profitable in lesser time.
What I understand is if it goes upwards then it will stay rangebound and slow-moving as the locational +ve Beta of RSI is very low.
But if it goes down where I find a good probability due to the high -ve Beta of RSI and support line of RSI setup does not look strong due to negative price action.
So Plan your Trade wisely...
Here we are in two confusions.
or shall it take the declining parallel channel to go down.
The magic will show us by RSI regarding the direction which is secondary.
The Important thing is which way it will be profitable in lesser time.
What I understand is if it goes upwards then it will stay rangebound and slow-moving as the locational +ve Beta of RSI is very low.
But if it goes down where I find a good probability due to the high -ve Beta of RSI and support line of RSI setup does not look strong due to negative price action.
So Plan your Trade wisely...
Comment:
As I have explained regarding the Beta factor check technically the asset may have given an upward breakout but can you find any profitability !!! So trade wisely.