After falling more that 35% in a month from 52 week high, stock is consolidating above 100 and 500 days moving average with MACD AND RSI showing buy signal today stock is closed just below its consolidation breakout and above its trend line resistance breakout.
We recommended traders to BUY RAIN IND ABOVE 398 level and target of 403-410 may achieved with a stop loss of 393.
Today stock has given trend line breakout on daily charts with volume being highest since 16 Feb. 2018. Stock is in consolidation phase in the 2nd half of the day and breakout of which will add more volumes to the stock. RSI is also at breakout level today and MACD has just given upward crossover on daily chart which suggest buying momentum.
We recommended traders to BUY VIP IND ABOVE 358 level and target of 362-367 may achieved with a stop loss of 353.
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