is RVNL Breaking the channel?
RVNL is trying to break the resistance.
RVNL is in a bull run of its own and we are seeing several stocks in this sector that are performing well. RVNL also looks really good with a wedge formation. Wedges are essentially neutral patterns made up of a resistance and a support line. Breakout on either side should enable you to take a position. Since this particular stock and the sector overall has been in a big bull run, I believe that RVNL can breakout on the higher side as the wedge is getting squeezed.
RVNL is in a bull run of its own and we are seeing several stocks in this sector that are performing well. RVNL also looks really good with a wedge formation. Wedges are essentially neutral patterns made up of a resistance and a support line. Breakout on either side should enable you to take a position. Since this particular stock and the sector overall has been in a big bull run, I believe that RVNL can breakout on the higher side as the wedge is getting squeezed.
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