Pullback Strategy - Price Action + Indicators
RPSG Ventures is an Indian Co in the IT sector
It has witnessed unusually high trading volumes in the recent months in spurts which have been synonymous with 25% upside
In the short term, we can see that the size of red candles almost decreased to a Doji and the share gave signals for a pullback from .628 level with a strong green candle.
The volume during the pullback phase was very dry, showing pretty strong pent up demand.
EMA 21/50 have been good supports during pullback. The level we are looking at also bounced from EMA 21.
RSI is above 50 and not overbought yet. MACD also seems ready for a Bullish Crossover.
It might be interesting to see if the trend is repeated with a strong green candle anytime soon.
The sentiments seem bullish as of now.
Note: This is just for educational purposes and not a trading advice. Please do your Due Diligence before taking any trade position.
Keep Learning :)
It has witnessed unusually high trading volumes in the recent months in spurts which have been synonymous with 25% upside
In the short term, we can see that the size of red candles almost decreased to a Doji and the share gave signals for a pullback from .628 level with a strong green candle.
The volume during the pullback phase was very dry, showing pretty strong pent up demand.
EMA 21/50 have been good supports during pullback. The level we are looking at also bounced from EMA 21.
RSI is above 50 and not overbought yet. MACD also seems ready for a Bullish Crossover.
It might be interesting to see if the trend is repeated with a strong green candle anytime soon.
The sentiments seem bullish as of now.
Note: This is just for educational purposes and not a trading advice. Please do your Due Diligence before taking any trade position.
Keep Learning :)
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