BEL going strong after sleeping

After resting for 2 weeks (BEL may relax after unsucessful break on Kumo), BEL went up for two days now, feeling energized. The last two candlesticks don’t show any bearish sentiment yet so there is a possibility that it will continue to move up. Our only concern so far is the RSI or Relative Strength Index which is now at overbought level.

Based on Ichimoku system, BEL is moving in an upward trend. Our newly found support is 5.85 after it broke the resistance today. We are speculating that BEL will reach the upper slope soon with some headwinds.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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