here as we can see after the motive waves 12345 , we are into abc correction
out of abc , wave a has been identified , and now wave a shall be retraced by wave b ,
keeping it very minimal to 50% retracements .. also the price action suggests that 350 levels
are a short term rejection levels as well ..
I am bullish on raymond on a yearly perspective and have...
320 has been a major resistance for RAYMOND. If it is able to break this level and hold around it for a while,
- the first target could be the 200EMA.
- the second target could be around 350 levels.
- the third target could be around 400 levels
These levels are marked base on historical support and resistance levels.
Raymond is breaking out of a Symetrical Triangle plus it is also making Double Bottoms. Both the patterns are on bullish side supported by the volume. Targets on the chart.
Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be considered as individual investment advise or recommendations. I...
Note: This is for educational purpose only.
There seems to be a W pattern in Raymond. Moreover, there seems to be a descending triangle bullish breakout with high volume. RSI is at 57 which is still in neutral zone.