RCOM ViewRCOM,At resistance zone. With Pitchfork lines acting as support.
Aggressive Traders can look for shorting opportunity
Buyers should wait for close above 40 to take fresh longs.
RCOM trade ideas
Channel Trading-Consolidation Breakout.Rcom Trading In An Upward Channel , Now After Few Days Consolidation Given Breakout..
Very Good Time To Enter.
Target-Channel Resistance.
Stoploss-As per Your Risk Aptite..
RCOM Buy Ascending Channel. RCOM price movement are forming a beautiful upward channel. Today's touch at lower boundary offers a good opportunity to go long at this level. Low of last swing would be a good protection so could be used as a Stop loss. It offers a good possibility to reach the upper end.
RCOM - TREND CONTINUATION TRADE It is observed that the price action is been trending up for a while and shall continue going up to next resistance levels at 40 and above.
Target: 40
Stoploss: 36
RCOM - Breakout expected soonWe could expect a potential breakout on the upside on RCOM as indicated by RSI. Enter only on confirmation of breakout!
Potential Targets: 33, 35 & 37.5
SL: 28.5
Generation Of Buy Signal In RCOM
Dear Readers,
I had been observing the stock of RCom for the last many months. Its rise from its recent low of 34.30 to the hight of 38.05, givining due consideration to the internal wave counts, looks to be impulsive in nature. Secondly, the MACD Oscillator has given sign of divergence in the current movement of the stock.
The stock of RCom seems to have completed its southward movement and may show up some good upside move in it. However, on safer side, any move below the price of 34.30 would be consider risky.
For the reference of the readers, the weekly chart of RCom, with possible wave counts, has been attached with this post.
Disclaimer: All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only.
RCOM - Counter Trend Trade SetupIt is been observed on daily chart that the price action is moving up with higher high then previous green candle indicating a counter trend setup. It shall further move up to Fibs levels of 23.6% at 37.70.
Target: 37.70
Stoploss: 34
RR: 1:1
RCOM BREAKS CRUCIAL SUPPORT Today, the price action breaks out from the important support level of 46-47 levels that indicating further weakness.
Target: 40
Stoploss: 49
RCOM Breaking Downside from Consolidation It is been observed that the price action is ranging in a consolidation and moving sideways on hourly chart. Now, it is breaking out from the consolidation and now it shall move further down to the retracement level of 61.8% at 44.25.
Target: 44.25
Stoploss: 47.50
Risk Reward: 1:4
RCOM Breaking Out Trending Channel (Bullish)The price action is indicating high buying pressure which surging prices up. It shall reach to 53 level soon.
Target: 53
Stoploss: 50
Duration: 1-3 Days
RCOM - BULLISH HAMMER FORMATIONToday, the price action took the prices to the previous support level of 47.45 where the buyers entered in the market and took the prices up again to close to day's open. It formed a bullish hammer that indicates rejection of lower prices and high buying pressure. To confirm this formation we shall see a green upside candlestick aiming to reach 53 levels which is the next resistance level.
Target: 53
Stoploss: 47
CMP: 49.20
Risk Reward: 1-3
RCOM In Wave 3 Progress After Completing ABC Flat PatternThere is an opportunity to invest as the price action is moving up to Wave 3 after confirming and completing a regular flat corrective structure. Now we shall short corrections and high jumps in price movements.
Target 1: 56
Stop: 49
RCOM - Moving High, Clean Breakout from a Downward Trend lineAfter trending down for a while, today I observed a clean price action breakout from the trend line, it shows bullishness in price action and it shall continue it to the next resistance level marked as Target 1 and Target 2.
One can go long in this with stoploss at 49
RCOM Breaks from Strong Support (Intraday Sell)The price action breaks from the previous support and now it may proceed to further down to the levels of 47. Good time to short.
Target: 47.17 SL 49
RCOM at Reached Strong Support Levels From current price action levels, this may go up or down massively. It is a ideal time to build a position in this as it is at the minimum risk. Starts small and build up slowly.
RCOM Breaking out Trendline (Intraday Buy)Targeting retracement level of 61.8 which also previous support level at 51.46. Stop Loss 49.50. It is also been observed that now the price action is trading above the 20 SMA, shows bullish signs.
