RCECAP (9296): Bullish

Pattern: Rounding Bottom Breakout + Channel

RCECAP, a good fundamental stock, has been trending up nicely within a channel since Nov 2016, as shown in RCECAP's daily chart below:

A buy on dip could be a good choice when the opportunities come by. A possible good low-risk entry is annotated in the blue circle above.

Based on RCECAP's weekly chart above, we notice that RCECAP broke out the neckline of the rounding bottom with huge volume in Aug 2016. It is now marching towards its historical high as boxed in red above. 

The immediate target prices for RCECAP are 1.96 (coincides with the area boxed in red), 2.58 and 2.96.

I maintain my bullish view as long as RCECAP is trading above 1.70.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

Topics That You Do Not Want To Miss

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The Trade Management Technique You Need To Know - http://klse.i3investor.com/blogs/candlestick/114496.jsp

Best Way To Learn To Trade Without A Mentor - http://klse.i3investor.com/blogs/candlestick/113821.jsp

Entry Setup Illustration - http://klse.i3investor.com/blogs/candlestick/113605.jsp

Stop Loss & Safe Trading - http://klse.i3investor.com/blogs/candlestick/113510.jsp

Ultimate Guide For Position Sizing - http://klse.i3investor.com/blogs/candlestick/113061.jsp

Come Up With Trading Ideas & Turn Them Into Investing Ideas - http://klse.i3investor.com/blogs/candlestick/114110.jsp

Cheers,

Ming Jong

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