Rbl charts, page-2

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BagsOBucks

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23/04/21

09:51

Post #: 52670640
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Originally posted by AJ7: ↑

Couldn’t find any chart thread so putting one in place.

Rsi is in oversold territory, short term down trend is coinciding long term uptrend starring from April 2020.

Very strong red candle today & closing at intraday lowest, selling pressure will remain continued tomorrow and Shorters will try to maximize the tree shake, $3.84 was the previous support which 100% retracement from previous lows, however the chances are very less to go down to that level.

on fib retracement, the stock has history of retracing back a touch below to fib 786 ($4.58) and it’s has already done that. This will stay horizontal for next couple of months then starts pushing upwards.

100% growth YOY with a PE of 37 makes its story in the making for next 5 years. Kgn in the early stages has moved like this and eventually peaked at $26 & RBL is no different.

company has Announced a growth strategy post pandemic which includes compromise on margin short term for one year for the sake of growth. March quarter is always slow so one must not forget.

On TA, this is still a healthy pullback as long as the trend is intact, a lot of brokers support, interesting to see new PT from GS.

upside potential $5.5 even if it is a start of downtrend. It’s s string hold imo!

DYOR & GLTAH

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Have a reasonably similar view that will become clearer with today's action...
What was the intraday level it stopped at yesterday... just under 4.50???... That's the number I am looking to go past...

RBL Price at posting: $4.24 Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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