Potential outside week and bullish potential for RRL
Updated
Entry conditions:
(i) higher share price for
RRL above the level of the potential outside week noted on 11th October (i.e.: above the level of $2.20).
Stop loss for the trade would be:
(i) below the swing low of 9th October (i.e.: below $2.00), should the trade activate.
(i) higher share price for
RRL above the level of the potential outside week noted on 11th October (i.e.: above the level of $2.20).Stop loss for the trade would be:
(i) below the swing low of 9th October (i.e.: below $2.00), should the trade activate.
Trade active
UPDATE (week ending 18-Oct): Trade activated 14th October, with share price closing above 10 and 30 day MA's at end of trading week. Charts suggest raising stop loss to support/resistance area from April 2024 (i.e.: $2.32) at the very least in order to preserve profits.Trade active
UPDATE (week ending 25-Oct): Share price closed above 10 and 30 day MA's at the end of the trading week. Consider raising stop loss to support/resistance line from April 2022 ($2.43) or August 2021 ($2.59), at the very least in order to preserve profits from recent gains in the share price.Trade active
UPDATE (week ending 01-Nov): Share price closed between 10 and 30 day MA's at the end of the trading week, with formation of potential resistance at the open of 28th October (i.e.: $2.80). Observe market reactions at this point as well as support/resistance lines noted in last week's comment for further potential direction.Trade closed: stop reached
UPDATE (week ending 08-Nov): Profitable stop loss activated 7th November, whilst the secondary support/resistance line noted above was tested for those traders in the trade who wished for a more conservative trade and were willing to give a little more 'wiggle room' (30 day MA still remains intact). Coverage ceases at this point - charts would suggest trade failure for those remaining in the trade should failure of 30 day MA occur also.
Detailed commentary about these trades available here (Stocks and bonds - scan results timestamped in comments; Crypto discussed too):
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw
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youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw
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