RETA - breaking up
After a huge plunge in Dec 2021, RETA had been consolidating in a wide range for the past 11 months. It's 200 day moving average has begun to flatten out since 27 September and the stock has also started to trade above this moving average since 14 Oct. The 200 day moving average have been tested a couple of times since and has proven to be the support so far (@ 29).
Last Friday RETA finally had a close above the long term consolidation neckline @40.65, on good volume, with Golden Cross about to materialise soon.
The stock is a long with initial stop loss just under it's 200 day Moving Average and recent pivot low (currently @ 29).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Last Friday RETA finally had a close above the long term consolidation neckline @40.65, on good volume, with Golden Cross about to materialise soon.
The stock is a long with initial stop loss just under it's 200 day Moving Average and recent pivot low (currently @ 29).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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