Today from stock pick list we have identified one stock named Reliance Power stock symbol is ‘RPower’.
Following are its some of the strong factors which has made it selection of the day in our list.
Point No. 1
From past few days RPower is under our observation and on Friday its had made huge volume built up along with price appreciation as you can see in the following figure.
Point No. 2
The second factor is that its RSI is diverging with its price which means that relative strength with price is moving strong. Its RSI has crossed 40 as we can see in the following figure. It is a positive sign for stock.
Point No. 3
Its third factor is that MACD is moving towards zero of the histogram. This marks as a positive sign which enables the interest in going long for the stock.
When to buy?
So now its current trendline will break only after it crosses 76 and sustain for some time or on Monday if its closing is above 76 then it is a triggering point for buy call of RPower else we have to wait till Tuesday.
Momentum is not so strong right now but it will pick up once stock climb above 76 & short covering as well as fresh longs will come in this stock.
So one thing should remember is that go long in RPower only above 76.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
Following are its some of the strong factors which has made it selection of the day in our list.
Point No. 1
From past few days RPower is under our observation and on Friday its had made huge volume built up along with price appreciation as you can see in the following figure.
Point No. 2
The second factor is that its RSI is diverging with its price which means that relative strength with price is moving strong. Its RSI has crossed 40 as we can see in the following figure. It is a positive sign for stock.
Point No. 3
Its third factor is that MACD is moving towards zero of the histogram. This marks as a positive sign which enables the interest in going long for the stock.
When to buy?
So now its current trendline will break only after it crosses 76 and sustain for some time or on Monday if its closing is above 76 then it is a triggering point for buy call of RPower else we have to wait till Tuesday.
Momentum is not so strong right now but it will pick up once stock climb above 76 & short covering as well as fresh longs will come in this stock.
So one thing should remember is that go long in RPower only above 76.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
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