$RPL – Is this the end of the rise or the beginning of a violent correction?
Current price: 6.09
24-hour increase: +24.29%
Volume: Significantly high
Frame: Daily
What do we see on the chart?
RSI Indicator = 83.27 in the overbought area
The last candle is a strong bullish one, but it is close to the upper limit of the Bollinger Band
The large volume with a long upper wick indicates a possibility of sellers entering
The price rebounded strongly from 3.85 to 6.43 without a clear correction
Potential trading opportunity: SHORT trade (for professional risk-takers)
Potential entry: 6.15 – 6.30
First target: 5.30
Second target: 4.90
Stop loss: Daily close above 6.70
Note: Timing is sensitive and a rebound is likely, but correction signals have started to appear
Question for the audience:
Do you expect a break of the 6.50 barrier and a rise above, or the beginning of a strong decline?