The stock gave a strong breakout and then pulled back on low volumes. Looks ready to restart its upward journey after a good 5 months consolidation. A close above 290 will be positive.
The stock has formed a double bottom trend on 4H chart. This means that if the stock can break its resistance it can go in a bullish trend for the next few weeks. As we can see that the stock price is currently taking resistance on R1=288 again and again. So this level is the key resistance. And the second resistance is on R2=292. The EMAs are also giving a buy...
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...
Before dropping to the lower levels as per the blue line, it might give a chance to exit between 350-370 shown by red lines. Which are strong resistances.
Looking at this chart I don't trust myself for a long term support at such low levels. I could be wrong but chart shows a down trend.
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.
RAYMOND BUY LEVELS
BUY ABOVE 263 on closing basis
TARGETS: 266, 273, 280
if sustain above 282-285 then 300-305 possible
Posting for Educational purpose only
Closing Basis means stock need to trade above 263 between 3:25 ~ 3.30 PM
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Professional Day/ Short-Term Swing Trader. Ideas and entities are opinions. Trade at YOUR OWN RISK. I AM not your financial advisor. Risk it for the biscuit.
