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RCOM

Discussion in 'Technical Analysis' started by vishuhd1, May 7, 2013.

  1. vishuhd1

    vishuhd1 Member

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    Any views on RCOM please?... The stock has been in very strong up move from 51 to 112 as of today... Is it a good level to enter in this counter for some short term trading perspective?... I see that the volumes getting traded are very very huge in this counter..
     
    vishuhd1, May 7, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Don't see any pattern being formed and so I would be skeptical unless there is some major news
     
    shabbir, May 7, 2013
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  3. vishuhd1

    vishuhd1 Member

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    The major news why this whole movement started was with the announcement of RCOM selling the Reliance Globalcom stake to Betelco (a Baharain Telecom Co.)... Stock prices almost doubled in a quick succession on this news.. I agree with you that theres no pattern formed though..
     
    vishuhd1, May 7, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    If the news is there just make sure you play runup to the news pattern and before the news day offload the stock.

    Avoiding should be preferred.
     
    shabbir, May 7, 2013
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  5. vishuhd1

    vishuhd1 Member

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    Ok.. Thanks Shabbir..
     
    vishuhd1, May 7, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, May 7, 2013
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  7. srspriya06

    srspriya06 Active Member

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    There is a breakout at 92. Also inverse head n shoulder has formed at 50 levels. Shall v consider it as Trend reversal?
     
    srspriya06, May 8, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    92 is a very week support and so would not read too much into it.
     
    shabbir, May 8, 2013
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