Raffles Education – Bounced back from 200D MA & reversed the trend!

What a big difference within a week! Last week the chart looked so bearish but today the stock price closed at $0.53 (with 48 million shares traded, #9 most active stocks of the day) showing a “Three Inside Up” reversal pattern after bounced back from 200D MA trend support of $0.51. Technical Indicators like Parabolic SAR, MACD, RSI and Stochastic are showing sign of reversal of bearish trend to bullish trend.

I was unable to resist this golden opportunity and entered the trade at $0.525 this evening. The support levels are pretty strong at $0.51 (200D MA) & $0.535 (61.8% Fibonacci Retracement Level).

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