RS.R trade ideas
RS | Bullish Wedge Breakout | Entry @ PullbackRS | Thailand SET Index | Media | Commerce Sector | Price Action Trading
Chart Pattern: Falling Wedge Bullish Reversal
Price Action: Entry @ Breakout Pullback
Indicator:
Volume profile strong support Stop-loss position and possible for uptrend price jump
RSI: slight bearish divergent indicating short term price pullback - buy opportunity
MACD: bullish golden cross signal line above baseline 0
Trade with affordable risk ratio 3:1
Always respect your stoploss
Good Luck
DP
RS and WTZ2 in DowntrendRS and WTZ2 in Downtrend. Consider risk reward ratio and position sizing before trading.
RS with WTZ CrossRS have performed on their financial results very well on the previous fiscal year. That reflects on their technical chart with WTZ cross pattern. We may prepare the trading plan as the follow.
RS is breaking 52 weeks averageThe price movement is very beautiful. The company just acquired the new subsidiary. There’s room for the new uptrend with news to play with.
RS : Long position at 21.4 to TP24.0 (expected 12%)Trend was likely to be reversal when it shows two higher bottom and 19.0 breakout with peak volume and a gap up afterwards. This is kind of the uptrend confirmation. The target are predicted from the cluster of Fibonacci extension and projection which accidentally equal the peak volume price level in the past months.
