Kijun Sen Cross on RWM

The long green candlestick called Marubozu may signify a reversal for RWM after it hit the 78.6% Fibonacci Retracement level. This leads us to speculate that RWM may continue to move up and reach the 127.2% Fibonacci Retracement level following this bounce. Current resistance is at 9.72 per share. On our daily chart, saw last Friday how RWM registered a bullish signal via the Kijun Sen Cross.

RSI or Relative Strength Index is currently at 52

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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