Hey Guys, Please Support - Hit Like.
A Bearish candlestick pattern called Three Black Crows has been found in Daily chart pattern of Relaxo Footwears.
Everyone is aware of Corona Virus Pandemic, and it's effect. Company has publish very poor numbers in last quarter.
(Target as below)
In last trading session price breach 50 EMA but eventually closes just above. the price has taken support of 50 EMA.
Volume - is constantly increasing since last three session (clearly on selling side).
RSI - is taking a nosedive.
Bollinger Band - Price closed below median shows another bearish signal.
On weekly chart it shows Bearish Engulfing pattern, also price closes below median & 20 EMA. RSI is giving weak signal.
Three Black Crows pattern it self a confirmation of Trend reversal but if you are very safe trader than price closing below 50 EMA would be an ideal situation.
according to my analysis price should fall below 600 levels. 630, 605, 580, 560, 549 are the best levels to buy.
it would be a great buying opportunity below 600.
Please feel free to leave suggestions or questions if you have any. I will try my best.
Thank you so much for Supporting.
A Bearish candlestick pattern called Three Black Crows has been found in Daily chart pattern of Relaxo Footwears.
Everyone is aware of Corona Virus Pandemic, and it's effect. Company has publish very poor numbers in last quarter.
(Target as below)
In last trading session price breach 50 EMA but eventually closes just above. the price has taken support of 50 EMA.
Volume - is constantly increasing since last three session (clearly on selling side).
RSI - is taking a nosedive.
Bollinger Band - Price closed below median shows another bearish signal.
On weekly chart it shows Bearish Engulfing pattern, also price closes below median & 20 EMA. RSI is giving weak signal.
Three Black Crows pattern it self a confirmation of Trend reversal but if you are very safe trader than price closing below 50 EMA would be an ideal situation.
according to my analysis price should fall below 600 levels. 630, 605, 580, 560, 549 are the best levels to buy.
it would be a great buying opportunity below 600.
Please feel free to leave suggestions or questions if you have any. I will try my best.
Thank you so much for Supporting.
Trade active:
Hey Guys, price is trying to sustain the level, if you find price below 600 level please bag some for long term.
Thanks for support.
Thanks for support.