A divergence is seen between RSI and price , with RSI showing a downturn and price going higher. Expect some correction. But the long term view is bullish as is evident by long period of consolidation and increase in volume.Also RSI jas been around 80.
Do let me know what u think ?
Is that an evening star in formation ?
Firstly there has been two gaupup movement represented by circles. As we know gaps almost are always filled.And the gaps here will get filled only if the price comes down.
Secondly there has been a huge dump of shares as is visible in Volume.
Thirdly the RSI has reached 87.5 and needs to come down.
What do you think. Will...
The price is moving in parallel channel as can be seen. So suppose once it reaches the lower line/ support, how to verify whether we can go long or we need to short. RSI Divergence comes handy here. We already have one confirmation that since price is moving in a channel and the lower line does seem to be support so it may bounce back.The next confirmation comes...