Consolidation after breakout from multi weeks resistance is now moving into new phase. Upmove is likely to get restart in next 1-2 session.
Disc : I have position in stock . It's not an investment advice to buy or sell
note
1) price is at neck line and a resistance zone
2) risk reward is favourable
3) Inverse head and shoulder
4) Kind of flag formation near resistance zone
Buy with sl below 2.80 target 6.40-7.30-8.40.
It's a pwwny stock . So risk is very high.
Disc : it's not an investment advice to buy or sell. I do have position in stock.
On Daily Chart, RPOWER is forming Reverse Head and Shoulders, Entry on pull back after Right shoulder finish. Wait and watch is the Mantra for now
Note: Please do your own research before entering this trade. At your own risks and rewards :)
I am just speculating that is 2.80 is maintained on daily closing basis then it should touch 6 and 8.40.
Disc : It's not an investment advise to buy or sell
RPOWER is forming bullish engulfing with RSI is showing probable crossover of 30 line. Volume is still average. If counter closes above 4.70 then the pattern will be confirmed.
Strategy 1 : Buy RPOWER if trading at 4.70 or above during 3- 3.25 p.m. with stop loss of 3.95 Target open
Strategy 2 : Those who want one more confirmation can wait for CCI crossover...
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.
