RLC at major support
Robinsons Land Corporation
RLC's downtrend price action brought its price at major support area and potentially forming a Falling Wedge pattern (Bullish).
The Bullish Divergence pattern on some indicators also suggest a weakening downtrend and the bottom may be near already (RSI and EFI indicators shown on the chart below).
*Major support around 22.80.
Trading Plan
- Buy the breakout from Falling Wedge pattern.
- For a high risk entry, do a position trade near the support area and set a tight stop-loss a few points below the major support (like a breakdown from 22.75).
RLC's downtrend price action brought its price at major support area and potentially forming a Falling Wedge pattern (Bullish).
The Bullish Divergence pattern on some indicators also suggest a weakening downtrend and the bottom may be near already (RSI and EFI indicators shown on the chart below).
*Major support around 22.80.
Trading Plan
- Buy the breakout from Falling Wedge pattern.
- For a high risk entry, do a position trade near the support area and set a tight stop-loss a few points below the major support (like a breakdown from 22.75).
Comments
Post a Comment