Thursday, October 28, 2010

RCOM : Volatility in the Pipeline

RCOM has displayed a broadening top pattern. This means the scrip has a strong chance of reaching the price levels of 194 - 198, this is because a reversal of the price from the 3rd low. This pattern is normally more volatile in nature, therefore we keep a S.L of 173. If the price falls below 173, the next intermediate support would be at 166. Also, the pattern would confirm a bearish breakout.

No comments:

Post a Comment