A simple formation as it appears. If we drop back to 75 and recover, it would be good to long at least to the life high of 260. Feel free to comment.
On weekly chart, we can see the stock very much in the uptrend since over a year. On daily chart, the stock seems to to be taking a support at previous month's highs at 219-220. The stock is enjoying an RSI of 61.55 which is yet again a healthy level for entry. Recommended profit booking for short term is around 240-250 levels however long term holding looks up...
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Weekly Analysis: On the 18th of May 2020, the downtrend of BOB shifted sideways. This sideways range continued for almost 27 weeks only to breakout from the range and change to uptrend around 1st December, 2020. The uptrend was resisted at Rs. 100.60 in the mid of Feb., 2021 exactly at the levels of previous downtrend's beginning. This resistance further tested...
I am going to keep a watch on this one. Wouldn't long so soon, but would definitely wait for a breakout from the triangle.
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So in the year 2017, in April we started the journey from $1069 and went all the way to $19804 a bitcoin before it took the dip. This jump was almost 20x from $1069 just to dip down and still be at 2x @ 3331. This time, we started from $6152.90 and have by far only reached a 10x to $61769.97 If history is to be repeated, we can easily look at nothing below...
Can be called a morning star with resistance breakout. Looks like trend reversal to me. MACD Bullish crossover. RSI being a lagging indicator might show up above 60 in a day or two.
Played in 1st resistance zone for a week to enter the next resistance zone. Might check support at R2 before jump. However shooting star formation could happen too. So wait for tomorrow's candle to close, if its green; buy day after. MACD says bullish. so could be a good entry point. RSI Still under over bought zone.
1. Previous month resistance acting as support for this month. 2. Rounding bottom formation in last month with last two candles breaking out above. 3. MACD bullish crossover. Ride the bulls coming up. 4. RSI around 77 so can be a good ride for short term
1. Broke the resistance on 7th Jan, converted the resistance into support on 8th Jan. Good entry point. 2. MACD crossed bullish on 5th Jan with Resistance break out confirmation on 8th Jan. Good buy. 3. RSI well above 65 on last close. 3rd positive sign here.