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stock analysis and understanding of important indicators Bollinger band and RSI

After a sharp downtrend, the share price of

stock started consolidating and formed a short sideways pattern. The consolidation pattern is expected to break out soon important resistance level will be 151, and support at 140 Also, the candlestick form on the daily basis chart was outside the lower band of the Bollinger Band, which indicates that the stock is trading in a sell zone, and a rise in price is expected At the same time, the RSI was also at 23, which also shows that the stock price is trading in an overbought zone, and a rise in price is expected The price may move towards the 20 exponential moving average, which is currently 165 Bollinger Band consists of a 20-period simple moving average with upper and lower bands. The upper band acts as an area of resistance, and the lower band acts as an area of support bottom and tops are made outside the band, followed by the top and bottom made inside the band, suggesting a reversal of trade Relative strength index (RSI) 0 to 30 is an oversold zone, which indicates buying, and 70 to 100 is an overbought zone, which indicates selling.