Nice Risk/Reward ratio for RCOM
1.Double bottom test
2. In accumulation zone.
3. RSI divergence
4. Great Risk/Reward
Be careful and follow the plan as two things can happen.
1. The trendline is down and if the price breaches the support, the stock can go down huge.
2. If the trendline breaks up, it can be a great Risk/Reward ratio.
So plan the trade as mentioned and keep strict stop loss.
Looks like a very favorable trade since upside potential is huge
and the stop loss is relatively very small.
A great risk/Reward ratio.
Stop @ 45.50 (Closing basis)
Target 1 - 51
Target 2 - 54
2. In accumulation zone.
3. RSI divergence
4. Great Risk/Reward
Be careful and follow the plan as two things can happen.
1. The trendline is down and if the price breaches the support, the stock can go down huge.
2. If the trendline breaks up, it can be a great Risk/Reward ratio.
So plan the trade as mentioned and keep strict stop loss.
Looks like a very favorable trade since upside potential is huge
and the stop loss is relatively very small.
A great risk/Reward ratio.
Stop @ 45.50 (Closing basis)
Target 1 - 51
Target 2 - 54
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.