Anuh Pharma - Going non-stop. Another 6.3% up today. Multi-year VCP Pattern BO happening. Volume build up is good. Just let it sustain above 261 levels until Weekly Close for rockets to Fly....Target 320, 445 (Still 2x to go from here). But fresh entries wait for BO confirmation on weekly. Remember - this is a Monthly Pattern. Even WEEKLY confirmation of BO is not good enough, but atleast we need to wait for this minimum
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Great share and spot. Thanks. By the looks of it, it will go down to around 130 before skyrocketing as with Overbought RSI, it has always fallen from the top. If it does not breaks out, I have a feeling, there is short term red on this. any thoughts?
There are 2 important things to note: 1. RSI is just a supporting indicator. It does not have any power by itself to push the price down. Even RSI divergence have been seen in many stocks for 3-4 years but the stock still does not fall 2. Yes indeed - due to the Multi-year Trenline resistance (which is the Primary factor to decide a downfall) the stock is set to fall down, but definitely NOT to 130 levels. The next demand zone is between 207-218. I don't expect them to be broken easily
Even if they do get broken, then massive support at 190 zone. the price won't go below this given the macro situations across the industry.
Here is the updated chart with supports / demand zone highlighted
By the looks of it, it will go down to around 130 before skyrocketing as with Overbought RSI, it has always fallen from the top.
If it does not breaks out, I have a feeling, there is short term red on this. any thoughts?