2 Powerful Indicators for Successful Breakouts.
Nov 11, 2021
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We used these 2 indicators on RSWM and were able to capture a 8.8% move in a short span. You can also use these to identify stocks with momentum for short term trades.
We published RSWM analysis in "The Financial Waves Short Term Update" on 02nd November which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
RSWM daily chart as on 02 November 2021 (Anticipated)
RSWM daily chart as on 11 November 2021 (Happened)
Wave analysis:
On the daily chart, in the previous session, the stock formed a bullish candle. We can see rounding bottom pattern has formed. Price has closed above 440 which confirms the breakout of rounding bottom pattern. Price is trading above the Ichimoku cloud which indicates that the short term bias is bullish.
In short, the trend for this stock is positive. Use dips towards 432-435 as buying opportunity for a move towards 470-475 levels as long as 415 holds on the downside.
Happened: After we published the report the stock made a high of 499 levels exceeding our target of 475! Giving more than 9% move in a short span.
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