Repco Home has been trading down for quite some time now. Down Trend line Breakout is yet to happen but Price Rate of Change has broken out of downtrend as you can see from the chart. I am expecting price will soon follow the Rate of change & would soon have a breakout, to climb higher.
Once break 658 enter your buy positions with the help of 1 hour time frame ...
target looks likely to be 700 or more...
SL according to your system RRR
Stock Formed Hammer on 25th and is respecting 600 Handle
One can long if Todays High is broken at 620 with 595 as Stoploss
RSI has Turned into upward Trend too
Our Target is 38.2% retracement of Fibonacci which is at 698.88
All mentioned & plotted on Chart.
Go LONG @ 632.30 (LTP at 1.12 pm)
Snapshot of Swing trade Levels will be updated Shortly.
Target & others detailed on Chart.
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Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
Snapshot of Intraday / Swing (2 - 4...
REPCOHOME: Reversal supported by Harmonic, Indicator, Candle Pattern
After completion of "AB = CD" (Here AB = CD, Ext FIB E 1.13.
NEXT in Correction phase, Point "B" treat as Strong support
& below that Short can be done.
Target is Point "C", & if Point "C" Breaks Retracement Level
may be "Phi" i.e. FIB E 1.414, even FIB E 1.618.
In last Trading day...
REPCOHOME stock price action bounced from the strong support zone 735 ready for the target of 900+ stop loss below 710. viewers can find +ve RSI divergence.
Repco Home Finance has moved up & then retraced back heading into a sideways consolidation.
It looks like the Bollinger squeeze had given a classical Head Fake by moving lower & showing a false Breakout to the downside.
However RSI divergence indicates strong support at lower levels, indicating a counter move to the upside.
Go Long for the Targets of 804/832...
It has been observed that repco homes is trading near the lower band of inclining channel. The stock fell significantly from upper band sharply but its fall is not justified by Volume. Stock declined with lighter volumes. Now stock trading near the lower band of inclining channel may attract buyers which can lead stock to 950-975 levels.
50 EMA trying to cross 200 EMA is a bullish sign. Last time when it happened around May 20 2016, Repco ran from 635 to 900 in less than 3 months. Does the magic repeat?
Disc: Invested, sharing for educational purposes only and not a solicitation to buy or sell.
