Long

Potential outside week and bullish potential for RSH

Updated

Entry conditions:
(i) higher share price for above the level of the potential outside week noted on 4th October (i.e.: above the level of $0.043).

Stop loss for the trade would be:
(i) below the swing low of 1st October (i.e.: below $0.033), should the trade activate.

Trade active

UPDATE (week ending 11-Oct): Trade activated 9th October, with share price closing well above 10 and 30 day MA's at end of trading week. Consider raising stop loss to $0.044 at least, based upon prior support/resistance area from February 2023 (move to further bullish potential list).

Trade active

UPDATE (week ending 18-Oct): Continued good performance by share price this week. Consider raising stop loss to $0.059 at least, based upon prior support/resistance area from April 2023.

Trade active

UPDATE (week ending 25-Oct): Share price closed above 10 and 30 day MA's at the end of the trading week, with respect of the stop loss area noted in last week's comment. Observe the waning momentum on the DMI/ADX indicator and corresponding market reaction.

Trade active

UPDATE (week ending 01-Nov): Share price closed above 10 and 30 day MA's at the end of the trading week, testing prior potential resistance from the open of 18th October ($0.078) - observe market reaction at this point. Should higher lows be made here, consider raising stops to beneath the next support level of $0.065 from the open of 23rd October.

Note

UPDATE (week ending 08-Nov): Trade has doubled - consider taking out initial investment to eliminate risk (or reduce risk by taking out small proportion).

Respect of support area noted on 6th November - charts suggest raising stop to beneath previous resistance area of $0.078 from open of 18th October (consider placing stop beneath swing low of 31st October - i.e. below $0.075).

Note

UPDATE (week ending 15-Nov): Share price closed above 10 and 30 day MA's once again at the end of the trading week after respecting the previous resistance area of $0.078 from the open of 18th October noted last week (this will be a confirmed support level should newer highs in the share price form on the daily chart).

Note

UPDATE (week ending 22-Nov): Share price closed between 10 and 30 day MA's at the end of the trading week whilst remaining above the previously noted support level of $0.078, which aligns with the 30 day MA.

Trade closed: stop reached

UPDATE (week ending 29-Nov): Share price closed below 10 and 30 day MA's at the end of the trading week as well as below the protective stop of $0.078 - charts suggest close-out of any remaining position at this stage in order to preserve profits.

Ivory_Wolf

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