February 19, 2013

RCOM Chart analysis

  • First chart of RCOM shows price trying to hold above the weekly rising support line.
  • Second chart shows price trying to hold above 200 Day SMA. Here price has also formed a bullish engulfing pattern.
  • Sustaining above the falling resistance line could result in a long trade towards 79 levels. For bears need a close below 200 SMA to invalidate this bullish setup.

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