January 9, 2013
- First chart shows price tying to take support at a short term trend line
- The two gaps discussed during earlier GAP's has given support so far. First GAP is faded and only the GAP between 5919 - 5935 remains.
- The resistance level of the range is now trying to act as support.
- 5 Day High EMA is acting as resistance. 5 Day Low EMA as support level. Need a daily close beyond these levels for a bigger move to take place.
- RCOM CHART ANALYSIS
- Weekly charts shows price trying to break above the weekly cloud and trying to stay above multiple resistance lines
- Daily charts shows two golden crosses. First one did not perform well and ended up as a Head and Shoulders breakdown. This time too there are similar opportunities for bears. But for now its good to stay with the short term trend which is up. One has to look for divergences and price weakness in daily chart and have proper trailing stop losses for longs.
- RCOM LIVE 5 MINUTES CHART WITH AUTO REFRESH