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pradipandsuvra

Precision Wire: Rounding bottom with momentum and volume

Long
PRECISION WIRES IN (NSE:PRECWIRE)  
pradipandsuvra  
NSE:PRECWIRE   PRECISION WIRES IN
Trend Analysis Double Top or Bottom indianstocksanalysis stocktowatchfor roundingbottom
2
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trendanalysis doubletoporbottom indianstocksanalysis stocktowatchfor roundingbottom
NSE: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
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