Precision Wire: Rounding bottom with momentum and volume
PRECWIRE
has the follow features: - A clear rounding bottom consolidation
- Then a breakout with a green hollow candle.
- Volume is higher than average (vwma)
- RSI is entering into 70 (OB) zone.
- BUT See the price made a higher high compared to 10th Nov candle, but RSI is low compared to 10th Nov. So, a weaker negative divergence may be forming.
Trade: Buy above 116, SL: 107, T: 121/126
Sell below 107, SL: 110, T: 100/96