The Weekly chart rushes into RSI oversold.
Retracement of the rally from 17.08 to 376.70
is being witnessed now.
38.2% retracement 239 is tested as
RSI hits the oversold on weekly.
RSI hitting oversold indcates investment
opportunity with gestation period.
The oversold position may take the stock
down to test 50% and 61.8% retracement
which are at 196 and 154.
Pyramid
1:2:3 at 230, 196 and 154
Waiting and gestation period is likely
if bounce and reversal is not witnessed on weekly.
Since RSI is in weekly oversold
make go into consolidation phase at lower range
and could create positive divergence before
moving higher.
Note: All oversold is large market cap stock
are always investment opportunity arises.
Retracement of the rally from 17.08 to 376.70
is being witnessed now.
38.2% retracement 239 is tested as
RSI hits the oversold on weekly.
RSI hitting oversold indcates investment
opportunity with gestation period.
The oversold position may take the stock
down to test 50% and 61.8% retracement
which are at 196 and 154.
Pyramid
1:2:3 at 230, 196 and 154
Waiting and gestation period is likely
if bounce and reversal is not witnessed on weekly.
Since RSI is in weekly oversold
make go into consolidation phase at lower range
and could create positive divergence before
moving higher.
Note: All oversold is large market cap stock
are always investment opportunity arises.