Mridu_A

Mridu_A

The pair ratio has corrected to long term crucial turning point (range). It is also standing at 61.8% retracement of rally from Jan'18 - Feb'19 RSI is in oversold territory Going by history, the pair ratio is ripe for reversal from 38.58 now, to potentially 44+

Mridu_A

The pair ratio was consolidating for 3 years (Nov'16 - Oct'19) in the range of 3.899 - 5.030 It broke down in Oct'19. 161.8% retracement of the above consolidation was at 3.201. The ratio made failed attempts to breakdown below this level, only to revert back to 3.899. The ratio has again reached (almost) the same retracement level of 3.201, with RSI making higher...

Mridu_A

The pair chart formed bullish crab pattern with PRZ (1.618 XA) at 2.020, stop loss at (2.00 XA) 1.870. It has confirmed bullish RSI divergence. A failed breakdown from 2016 lows of 1.942. As long as prices are above 1.942, the ratio looks set to revert to 2.280

Mridu_A

Cipla faces important resistance from negative RSI divergence. Also from falling trendline and Bearish Shark pattern (pointed out by friend Dinesh Nagpal) Risk reward in favour of correction, as long as it is below 650, with potential support at 490

Mridu_A Updated 

Bullish RSI divergence confirmed in the pair ratio. A similar formation was seen in Jul'19 - leading to a sharp rally in the pair. From the current ratio of 0.750, the pair can revert towards 0.875

Mridu_A Updated 

Bullish bat forming. Price near PRZ. Ratio chart set for mean reversion.

Mridu_A Updated 

Page Industries corrected to 2015 highs, broke it down and now that breakdown seems to be failing. As long as the ticker is above 2015 highs, the next logical resistance is 21479.