RYAM Long Idea - Daily - Target is $16.00 by Oct 29th
Updated
Similar setup to that last push up with the divergences. That support buying area goes all the way back to a double bottom in 9/2015 + 2/2016. Price also wicked into this area when forming the descending wedge that it is in.
I see the first lighter targets getting hit quickly before there is a retrace to find some support before resuming to final targets. Fib levels match up perfectly for this target and I really like this setup.
I see the first lighter targets getting hit quickly before there is a retrace to find some support before resuming to final targets. Fib levels match up perfectly for this target and I really like this setup.
Trade active
Comment
Double bottom divergence is playing out perfectly and RSI is above its EMA. This should break out of that descending wedge any day Comment
Building some momentum and RSI is behaving the same as the last run up in price
Related publications
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.