An old favourite of mine, above todays high, it could move into a new phase to the trend towards 116. Once it breaks above 116 is where i will for sure be loading up again on this stock. Too much potential, Q3 is when all new capacities start to come online too.
Ps: Pardon the excess lines on the chart but they are just supports and resistances of the past which...
Rain Industries - price corrected around 80% due to carbon price correction.
when a price is correct by 80% it is worthy taking a watch as an investor / long term traders.
As per TA, it is making a long falling wedge and most of the time wedge tend to break upside. So,
one can buy between 85-105 rs and sl below 85 for the target of high (480)...
Stock has been falling from many months, making lower low.
Still no signs of reversal, however its been trading in fibonacci crucial zone hence keep an eye on price action
Further support can be seen at 121 levels.
Volumes are considerably low.
its been raining for a while now from 480.
RAIN is entering support zone of weekly 200 mov avg (124) and monthly 50 mov avg (110).
110 to 124 can be accumulation zone for a rebound.
120 is also 75% retracement of life highs of 480. correction has been steep....
NOTE: Analysis is for EDUCATIONAL PURPOSE only..