any idea where Filatex price is going in long term?
Rugminik
⋅
@vickyv212, Hello, In the long term the trend is still up and intact with Higher High and Higher Low structure. The support of 30.15 rs is crucial for long term. To add to this, I would be cautious in the long term as well, as there is a shooting star in QUARTERLY CANDLE, which is definitely not a good sign with bearish RSI divergence as well. Whatever may be the other indications as long is trend is up, everything is under control, if trend structure breaks then I would exit, it's the large RED ALARM. TREND is everything! This applies to all time frames - which ever sort of trading we do.
vickyv212
⋅
good atleast the trend is up atleast for now
Rugminik
⋅
@vickyv212 Request to make and follow risk management protocols - Position sizing and stop losses, as per own style, only that saves our capital in markets and it's extremely important. it's not about being right always, it's ok to be wrong, but NEVER OK to get into huge losses. Happy Investing/ Trading!
vickyv212
⋅
sir today price action ,it didnt sustain higher levels ,so will it cross today high in near term or turned bearish?
Rugminik
⋅
@vickyv212, You are correct, today's candle shows good selling pressure. Technically , a shooting star sort of candle at the top most part. But cannot conclude based on today's move alone. We need to wait for weekly close. Booking good long profits by trailing and trailing SLs must definitely be based on risk management protocols set as per own style of trading. Supports at 65 and 58, zones. Stock does not look weak in higher time frame - Monthly, it is super strong. As the markets are not supporting now, it may come for a dip, expecting strong buy at 58 zone. If the stock closes below 58 zone in weekly, only then it would look bearish to me for the few weeks after that.
Rugminik
⋅
@Rugminik, stock has brutally broken support like all other Small caps and Mid caps.
vickyv212
⋅
@Rugminik what is view now ,Filatex have recovered above 100SMA above 60 now ,when is new high expected ?