Are we done with high 9s?.Yes, RCR gained half cent on moderate...

Are we done with high 9s?

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Yes, RCR gained half cent on moderate volume of just under 10m shares traded.

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So are we done with high 9s or odds are still good for it to go below 9.5c? Very difficult to say. Most seasoned chartists don't believe we are out of the woods. Chart wise has not crossed some key levels. So based on that one may think there is unfinished business in the 9s. But I have a different feeling. Not based on charts but trading pattern. Early last week when coming from 7 and 8s, I had written first target was 12.5. I thought it may overshoot having tested high 9s. But it played till 12.5, reaching there couple of days back. Today was the third day it played high 9s, and it has held again. I thought that was very positive. I like when it does a few times and holds. So now I feel it may do its journey to next target of 14.5.

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Personally, as I write I play numbers and levels. I played a few around 12 and 12.5 mark, but bought a decent one at 10 today. Upside I will play for 14.5

Downside if high 9s is not looking like holding, I may have a think. Just my thought, anything can happen, so please dyor.

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So what may happen tomorrow? Any news could take over the technical play. Otherwise I feel the odds of reaching 14.5 is higher than reaching 9.5 first, hopefully general markets too behave. But it's looking good, especially because it's consolidating and going higher, so a very good play till now. Let's hope we see some fireworks tomorrow. All the best.