Robotics looks like it is going to have a big run upCharts point to a run to the upside in Robotics over coming number of weeks.
RR trade ideas
$NASDAQ:RR Double Bottom Breakout Setup - 50-80% upsideNASDAQ:RR looks like it's setting up for a possible breakout.
What to look for:
Price closes above the breakout threshold ($3.90)
Volume is spiking - looking at recent spikes, looks to be ~60++M shares
Squeeze is expanding in a positive direction (UP!)
MACD is signaling BUY
William %R is pushing into oversold territory (~20% or less)
Entry:
Depending on your risk threshold there are a couple of places that I'd suggest...
Current price - more risk, but higher reward ~85% upside
Price after closing above $3.90, less risk, but lower reward ~50% upside
Price Target:
As shown on the chart $5.83
A Harmonic on Richtech Robotics? RRThis is another scenario in an otherwise bullish picture, technically speaking. Early days if the D in the XABCD is really forming, so like with most things time will tell. Fibonacci cluster levels show some static trading targets. In practice we never use static targeting in our trading.
The stock is trading in a demand zoneThe NASDAQ:RR is trading in a demand zone on the four-hour chart and above the 50-period EMA.
If the stock rebounds successfully, it targets the resistance at 3.81 or the selling area between 3.85 and 4.36.
The analysis may be right or wrong.
RR is she coming backI created an idea for trading a week ago for RR. It was the perfect chart pattern. Abnormal price and volume action was in place. Next trading day, the stock gave 1:3 risk reward ratio. After that came down hard but never closed below the low of the consolidation area. Today at the time of writing @ 1.24 volume is coming in again, and price is increasing. So it is positive, and there might be another opportunity. Stop loss is around 1.09, and no target at this time, however may be 2.40 range. So the risk/reward is huge. Play safe.
RR closed strong with volume and price actionThe current price is 1.47 for this stock. Stop loss is @ around 1.13. If you happen to accept the risk of $500 and bet that the stock will go up, then you have to buy 1470 shares. If it doesn't and closes below 1.13 you will take the loss of 500 and move to the next trade.
Remember guys, we are walking in a random environment. The edge is more than %60. So we do not know which trade will be the winner, all we know is we have a high probability.
Trade well
RR could be a bottom fishing at this rangeLooking good for a bounce play. In @ 1.24. Let's see the game.
What is going to happen to RR next week?after NASDAQ:RR takes two huge hits to its price last week making an all time low (although it is a new IPO) will it continue to break down lower or does it like this price? The post market price is 3.2 after closing at 3.47 so we have no movement after the huge selling volume on Thursday and Friday. What do you think?
