On 7 Apr, RCOM closed above its 200DMA (131.90) with volume and on 9 Apr, prices even didn't touch it.
Preferred EW Counts (as per my limited knowledge):
Wave 3 is subdividing and (iv) might have completed at 126.35 (fall from 133.80 to 126.35 was in clear 3 waves). Rise from 126.35 to 133 (in 5 waves) to complete i of (v) and then fall from 133 to 126.55 (in 3 waves) to complete ii of (v). iii completed at 136.40 and iv at 134.10 and now v of (v) might be unfolding.
Alt Count: Wave 3 is subdividing and (iv) might have completed at 126.55.
If we observe wave (i) and (iii), both seems to be normal, so we can expect (v) wave to extend to complete 3.
Preferred EW Counts (as per my limited knowledge):
Wave 3 is subdividing and (iv) might have completed at 126.35 (fall from 133.80 to 126.35 was in clear 3 waves). Rise from 126.35 to 133 (in 5 waves) to complete i of (v) and then fall from 133 to 126.55 (in 3 waves) to complete ii of (v). iii completed at 136.40 and iv at 134.10 and now v of (v) might be unfolding.
Alt Count: Wave 3 is subdividing and (iv) might have completed at 126.55.
If we observe wave (i) and (iii), both seems to be normal, so we can expect (v) wave to extend to complete 3.
At 142.50 (61.8% of the fall from 164.65 to 106.75), 3 wave may end and thereon correction starts as wave 4 for the rise from 112.75 to the high made be wave 3
Bull Flag Pattern:
Bull flag can be observed in RCOM's hour chart.
BO above: 136.40, T1= 138.50; T2 = 144.90 keeping SL at 135.35 post break out.
Bull Flag Pattern:
Bull flag can be observed in RCOM's hour chart.
BO above: 136.40, T1= 138.50; T2 = 144.90 keeping SL at 135.35 post break out.
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