RDY @ 9 NOV 2021Text me if you have any questions/comments for me.
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RDY
- Previous analysis was done on 4 Nov (red arrow) -> suggested waiting for a retracement and a successful rebound
- Since then, the stock has retraced to test the psychological support at $4 levels
- Personally, I would prefer a retracement back to the short-term support so that there is a better setup for entry
- If the stock doesn’t retrace further, a successful rebound would be around 4.20 levels
- R is borderline 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry if comfortable with a strict 10% entry
RDY trade ideas
RDY @ 4 NOV 2021Text me if you have any questions/comments for me.
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RDY
- Previous analysis was done on 26 Oct (red arrow) -> suggested waiting for a retracement and a successful rebound
- Since then, the stock did not have a strong retracement but instead has broken through the psychological resistance at $4 levels
- On 12 Oct (blue arrow), I also suggested entry at 3.50 levels which has seen the stock increase almost 20% since
- Price is currently too far from the short-term support
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a retracement and successful rebound
RDY @ 26 OCT 2021Text me if you have any questions/comments for me.
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RDY
- Previous analysis was done on 21 Oct (red arrow) -> suggested waiting for a successful rebound around 3.80 levels before plotting entry
- If you have taken the suggestion, today’s price action would have provided gains of almost 4%
- On 12 Oct, I also suggested entry at 3.50 levels which has seen the stock increase almost 13% since
- Price is currently too far from the short-term support
- Potential psychological resistance at $4 levels
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a retracement and successful rebound
RDY - 21 OCT 2021Text me if you have any questions/comments for me.
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RDY
- Previous analysis was done on 12 Oct (red arrow) -> suggested entry at 3.50 levels is believe the stock can form a new all-time high
- Since then, the stock rose 10% to create a new all-time high before retracing to the 3.60 resistance-turned-support (orange line)
- A successful rebound would be around 3.80 levels
- Personally, I feel another test of the short-term average would be better for the health of the trend
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry
RDY @ 12 OCT 2021Text me if you have any questions/comments for me.
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RDY
- Previous analysis was done on 6 Oct -> suggested waiting for successful rebound at around 3.50 levels before plotting entry
- Since then, the stock has nicely rebounded to form a doji today at 3.50
- The strong volume on 8 Oct bodes well for the short-term momentum of the stock
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest entry at current levels if believe the stock is capable of forming new all-time highs
RDY @ 6 Oct 2021Text me if you have any questions/comments for me.
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RDY
- First time doing a written analysis on RDY
- Currently trading near all-time high regions
- Uptrend started to form since end-March 2021
- Stock is outperforming the market -> Recent market downtrend has not affected the stock
- Current test of the short-term support looks to provide another opportunity for entry
- A successful rebound look to be around 3.50 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before plotting entry
