Long | RCONNASDAQ:RCON
Possible Scenario: LONG
Evidence: Price action
This is my idea and could be wrong 100%
PT1: 2.80$
* This is swing trade
RCON trade ideas
Recon Technology Ltd. Bullish Targets Recon Technology Ltd. engages in the development and marketing of oilfield equipment, automation systems, tools, chemicals, and field services to petroleum firms. It operates through the following segments: Automation Product and Software, Equipment and Accessories, and Oilfield Environmental Protection. The company was founded by Guang Qiang Chen, Hong Qi Li, and Shen Ping Yin on August 21, 2007 and is headquartered in Beijing, China
RCON- Hold My BeerThis is a very kick ass setup that has the potential to go parabolic. The float is microscopic at 4.2M shares and the energy is getting hot.
The price closed above the 61.8% fib ($1.14) which was prior resistance. Also it broke out of the descending trend line on the weekly.
Last but not least the MACD cross is bullish AF. Love the MACD indicator.
$RCON is gonna to fall todayPupm&Dump trading strategy idea.
$RCON is rising without clear preconditions today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $1,52;
a stop-loss — $1,77;
a take-profit — $1,27;
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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last week GBYJPY This video is for last week, private messages asking me do this. Stay tune tonight for more .
Potential Breakout for $RCON on Thursday July 5?We take a look at the RCON chart and examine its spikeability and assess why this might be a post independence day breakout stock. Thanks for watching
RCON BEEN PRETTY GOOD WITH IT ON THE CHARTS, HITS THE ALERT LINES ALL DAY,,, MIGHT BE TIME TO GET IN
Recon Technology may be starting a up trend.The stock price of Recon Technology, has been in a down trend for a while, but it looks like he's trying to start a up trend. It may be a good time to try a trade in RCON
My sugestion:
Entry point: 1.33
Stop loss: 0.86
Profit target: 2.66
RCON is can be a next breakout playChart analysis: downside 15-20% against upside 43%. volume is rising in the past few days, RSI reaching 70 (good momentum), MACD trend crossing above the signal line, all sets up for a bullish move ahead.
Fudemental: Hydraulic fracturing "fracking" is a hot topic in all petroleum industry. China needs coal, just recently introduced hydraulic fracturing. RCON can be a good potential buy .
