REVIEW 1:
Post dated 10th Sept 2015: In our weekly harmonic review, we found bullish abcd pattern on Rpower weekly chart, wherein we were expecting a bounce from its prz area, As expected prices reversed exactly from its prz area,
This entire pattern completed in 3.5 years. which is an important time cycle, hence this pattern provided us with an important support zone.
REVIEW 2
Post Dated 21st Sep, 2015: We found Bearish Bat formation on its daily chart, wherein we warned that stock is approaching its critical resistance area i.e 43.8 – 46.40, and longs should look for booking profit near these levels.
As expected stock, in today’s stock tested pattern prz area, and closed in red.
Hence Sustenance above 47 levels can only trigger further buying in the stock, else we could see stock testing 39-40 levels on the lower side.
No comments:
Post a Comment