Let it Rain!
Technical Analysis of Rain:
Over the past two years, Rain's price has been in a consolidation phase following a significant 300% increase from April 2020 to July 2021. It's important to note that this price surge occurred alongside a broader market rally during the same period.
Positive Indicators:
The weekly and monthly charts highlight some encouraging signs. Notably, there has been a sudden increase in trading volume [W], and the MACD lines and bars have been flatlining on the monthly timeframe, which may indicate a potential shift in momentum.
Key Support and Resistance Levels:
Support: 140
Resistance: 190, 225, 255
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Over the past two years, Rain's price has been in a consolidation phase following a significant 300% increase from April 2020 to July 2021. It's important to note that this price surge occurred alongside a broader market rally during the same period.
Positive Indicators:
The weekly and monthly charts highlight some encouraging signs. Notably, there has been a sudden increase in trading volume [W], and the MACD lines and bars have been flatlining on the monthly timeframe, which may indicate a potential shift in momentum.
Key Support and Resistance Levels:
Support: 140
Resistance: 190, 225, 255
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
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