RTNPOWER popped up on RSI breakout screener results
A few highlights
Increasing volume when breaking the neckline level 9
There was strong resistance at level 9, failed attempts four times
Rounding bottom
There is no resistance if it breaks its all-time high of 13.50
RSI above 60 on a monthly, weekly and daily time frame is a vital sign
Even if we set stop loss below the previous swing low, we can comfortably achieve a risk-to-reward ratio of over two. Good trade for the short-term.
If the trend continues after retesting the neck level 9, we may see 17 levels shortly. The depth of the cup is the target from the neckline.
A few highlights
Increasing volume when breaking the neckline level 9
There was strong resistance at level 9, failed attempts four times
Rounding bottom
There is no resistance if it breaks its all-time high of 13.50
RSI above 60 on a monthly, weekly and daily time frame is a vital sign
Even if we set stop loss below the previous swing low, we can comfortably achieve a risk-to-reward ratio of over two. Good trade for the short-term.
If the trend continues after retesting the neck level 9, we may see 17 levels shortly. The depth of the cup is the target from the neckline.