RELL Head and Shoulder formationObserved Head and Shoulder forming. To observe if it tanks but RELL is a good stock so could be retracement to one of MA levels.
RELL trade ideas
Looks bearishI just opened a short position at current price. I will add if price tests the $24.8 resistance level and is rejected. Important to see a rejection before adding another short position.
$RELL Flat Base Break-outSimply posting this trade as an idea. I have a starter position (noted on chart) with a very tight stop. If this helps follow your own rules. I sometimes publish my ideas in hopes of helping others learn to trade. This is not trading or investing advice in any way. Happy Thanksgiving!
Focus Stock 16 Nov: $RELLFocus stock for today: $RELL. Strong group (industrials), price tightening up after recent ascend. 10 and 20 day moving averages have converged, and we now have an inside-day bar on Tuesday to trade on.
Richardson Electronics (RELL) Long PositionCup with handle that could have been entered yesterday. The bottom of the handle retraced just a smidge above the .50 fib level before bouncing back up with the last two days sporting a pocket pivot.
RELL Cup w/ Handle - Long TradeRichardson Electrics (RELL) makes components for microwaves, power grids, generators and data display monitors. The stock is a rare sign of strength in an otherwise abysmal market.
RELL is completing a cup with handle pattern that began in January, and the stock is currently just 5% from new all-time highs. The relative strength line has been surging for the last 6 weeks. It now has an RS rating of 98/100 on MarketSmith. In other words, RELL is outperforming 98% of all other stocks.
The volume up/down ratio is a bullish 1.39 and we have seen several high-volume up days over the last few weeks - a good sign that institutions are likely building positions in the stock.
I've also overlaid the fundamentals at the bottom of the chart. As you can see, sales are growing at roughly 30% per quarter and profits are advancing at a triple-digit rate. RELL posted $0.25 EPS in 2021 and analysts are forecasting $0.91 in 2022 - a 264% increase year over year.
I think RELL is a buy here. If you want further confirmation, wait to see if the stock hits 15.70 to make new all-time highs.The stop would be beneath the swing low at 13.35 for a 9% risk on the trade.
Richardson Electronics Ltd. (RELL)Richardson Electronics Ltd.
Possible Short quick Target $12.20
Stop L $10.40
Long Target $14
GoodLuck :)
RELL $10 - $25 ValueThe company has $46m, or $3.46 a share, in cash and net current assets of about $106 million or about $8 a share. The companies liquidation value is about $10 per share.
Companies like this can sell for 1.2 to 2.5 times revenue. RELL’s revenue per share is $11.72. The potential of the stock moving from being perceived as a value stock to a growth stock will increase with each quarterly report if the company continues improving revenue with outstanding margins,
$10 is the low end valuation
$25 is the high end valuation
RELL - worth $15 - $20, $3.50 in cash & very undervaluedcould easily trade at $20 in 12 to 24 months. The fact they improved revenue and margins as the economy weakened is very impressive.
