Technical Pulse: Razer Inc. October 11, 2021 544

Razer Inc (US: 1337) downtrend was strong after fulfilling the diamond top bearish reversal but recent technical indicate that the downtrend may come to a halt after bullish signal is spotted:   

 

  1. The formation of the larger falling wedge is a sign of a bullish reversal signal. Once immediate resistance at HK$1.70 is broken, the upside confidence will increase.
  2. Although Ichimoku signals a bearish trend, last Friday’s bullish Marobozu gaps up above the Tenkan-Sen, which confirms Thursday’s bullish rebound at HK$1.50-HK$1.56.
  3. The RSI indicate a bullish divergence.

 

*Expected timeline of the trade is 5 weeks from the date of report issuance.

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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