joeywithbrain

Indigo Trap - Fake breakout

Short
NSE:INDIGO   INTERGLOBE AVIATIO
The price seem to be a trap. No volumes despite it being an 8 month breakout.
there is a clear divergence on the RSI and the price.
Its a classic bearish divergence.
The price is making HH and the RSI (oscillator) is making LH
The price should be back to 1600.
Comment: There is a correction.. the price will be back to 1600 levels in few days.

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