Bullish RSI Divergence - Case Study #2 with future trade
Diupdate
In case of AFFLE India, in the daily chart frame, we can observe the price made a lower low before finally making an upmove from 3800 to 4350. However the RSI made high lows which is the complete opposite of the price movement. This indicated that the buyer strength was increasing even with the drop in price.
How should one trade?
One should go long with a SL below the latest low of the price i.e. 3800
In this case, since the stock has already moved up, one should wait for the stock to again come back to 4000-4200 levels for buying with a SL below 3800. One can take a target of 5000 and beyond in short term.
The stock is a quality bet which is now available at almost 30% discount from its 52 wk high.
How should one trade?
One should go long with a SL below the latest low of the price i.e. 3800
In this case, since the stock has already moved up, one should wait for the stock to again come back to 4000-4200 levels for buying with a SL below 3800. One can take a target of 5000 and beyond in short term.
The stock is a quality bet which is now available at almost 30% discount from its 52 wk high.
Trade aktif
The stock didn't come back to 4000-4200 levels and gave multiple upper circuits to reach 4800..Just 4% away from target of 5k..Cheers!Trading ditutup: target tercapai
The stock is now trading at 6k levels. Recently it went through a split too..Target achieved..Great trade. Cheers to those who traded this stock!
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