Rpower is showing positive divergence on daily chart. If it is a parallel channel, then stock should move up towards 8.30- 8.70 zone. Trader can buy at 5.60-5.80 with stop loss below 4.20 for target of 8.70. It it gives close above 9, then one can expect rally towards 13.
Note : We have buy position in RPower.
It has been observed on the daily chart that the price action rebound on the strong support zone of 38-39 previously and now, it has done it. It is indicating a good buying at those levels and now it shall boost this rally further up.
As per fundamentals, It is trading a low P/E and below its book value which is another good value addition for buyers to initiate...
It is been observed that the price action is consolidating in a sideway correction and now, it has formed a bullish candlestick pattern indicating a bullish move ahead. It shall be a starting of another new wave or rally to upside.