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May consolidate and go to a level around 2600. Medium term target:3200
Generally, When RSI shows values higher than 70 or below 30, this is to considered as stock or index is overbought or oversold. But that's not always the case.
As we just learned In The Introduction : Relative Strength Index (RSI) that a high RSI means that there were more bullish candles then bearish candles. As stock or index can't go up or down in straight ...
Everything on the chart
This stock has been a star performer and I have tracked and traded it too. This stock has been featured here way before the move started. I did not participate in the run up fully though.
OK, that was a brief background. Off to the charts now. Notice the spike in trading volume and the price action. We have seen one of the biggest percentage decline in the stock, ...
VENKEYS 1253 is ready for a break out from the consolidation.
purpose of posting this chart is not to trade.just to highlight a event impact
technical chart gets a reason to cheer /breakout.
12 feb 2016 price 215
21 april 2017 price 1300
21st march 2017 - breakout of flag pattern ( ban on illegal slaughterhouse in up)
in last1 month price 65% return
1 year 4 month return 600%
what a move ..
This is a follow up to the idea published yesterday in Venkeys.
Looks like a Wyckoff accumulation. After the breakout, there is retest aka BUEC in Wyckoff terms. Looks bullish.