Precision Wire: Rounding bottom with momentum and volume

Dec 4, 2022

PRECWIRE has the follow features:

• A clear rounding bottom consolidation
  
• Then a breakout with a green hollow candle.
  
• Volume is higher than average (vwma)
  
• RSI is entering into 70 (OB) zone.
  
• BUT See the price made a higher high compared to 10th Nov candle, but RSI is low compared to 10th Nov. So, a weaker negative divergence may be forming.
  

Trade: Buy above 116, SL: 107, T: 121/126
Sell below 107, SL: 110, T: 100/96