ASX:RHL I am adopting a wait and see first strategy for this stock. The bear pennant doesn't seem to excite me although
1. price action closed just slightly above the cloud for about 4 weeks already
2. declining volume probably explains why it has been rather flat
3. RSI showing positive signs both daily and weekly
but i will still wait out for confirmation before entry.
A confirmed break above $3.18 is a good sign.
A break below $2.80 spells trouble.
Beware of bull and bear traps.
1. price action closed just slightly above the cloud for about 4 weeks already
2. declining volume probably explains why it has been rather flat
3. RSI showing positive signs both daily and weekly
but i will still wait out for confirmation before entry.
A confirmed break above $3.18 is a good sign.
A break below $2.80 spells trouble.
Beware of bull and bear traps.