Symmetrical triangle BO on Renuka Sugars daily chart

7 thg 12, 2021

Symmetrical triangle BO on Renuka Sugars daily chart, after a high of 47.75 on daily TF, the stock had a correction & has been consolidating since august, as per today's closing seems this is a Symmetrical triangle BO.
MACD seems giving +ve divergence, volumes are decent, RSI is around 54, good stock to watch out for in coming days, needs volume & RSI strength to see some good up move, resistance at 29.85 & 32.75.
Disc: Invested, chart for education purpose only. Not a reco for trading/investment

10 thg 12, 2021

Ghi chú

Moved perfectly in last two days, it has closed above the resistance of 32.75, on weekly & daily chart - both the time frame. Volumes are decent & todays opening was with a gap, it may retest the BO levels & fill the Gap. RSI is 70 so strength is good but needs to be supported by volume.

Disc: Invested, chart for education purpose only. Not a reco for trading/investment

13 thg 12, 2021

Ghi chú

Chart perfectly as predicted, the Gap is filled & is now at support, if market pertains negative in this week, it may retest the falling channel BO & take support at the channel trend line.