ASX: RHL Ruralco Holdings
$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.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.