R-Power Bullish opportunity
Since, there is a good flow of news on this stock, let's analyze it from technical standpoint for positional long bet.
In the chart (Weekly):
- We seem to be in primary impulse 3rd wave of which we have created sub impulse waves 1-2-3-4 (colored in yellow)
- The yellow colored 3rd may have either terminated at 50 and is coming towards 34 for completing yellow colored 4th wave OR the price may go up from here itself and touch yellow 3rd wave of target of 60ish and then some consolidation may happen
- Also, note we have a good strong weekly demand zone at 32-34ish and price if enters here again, can be a good long bet with excellent risk reward
In the chart (Weekly):
- We seem to be in primary impulse 3rd wave of which we have created sub impulse waves 1-2-3-4 (colored in yellow)
- The yellow colored 3rd may have either terminated at 50 and is coming towards 34 for completing yellow colored 4th wave OR the price may go up from here itself and touch yellow 3rd wave of target of 60ish and then some consolidation may happen
- Also, note we have a good strong weekly demand zone at 32-34ish and price if enters here again, can be a good long bet with excellent risk reward
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