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RPC

US Stock In Play: $RES (RPC Inc)With $SPX suffering a further correction of -2.6% as investors begins to worry about rising yields where the benchmark 10-year U.S. Treasury note briefly crossed the 1.6% level, $RES rallied a further +8.31% to close at it’s 52-weeks high at $6.39. The total cumulative rally from the breakout of its 3 months trend channel stance at +39.33% in less than 19 trading sessions. Implied volatility of $RES currently averages at $0.35/day, putting it on a spotlight to re-test its immediate resistance level at $6.80 in the upcoming session. Any signs of exhaustion will required $RES to break below $5.00 before End March 2021. $RES provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties.
NYSE:RESLong
by jfsrevg
RPC INC (RES) - Long +30% profitI'm longing @ approximately 9.71 with a long term target of at least 13.00 Tight stops. Arguments: 1. Expanding diagonal identified (zoom out). 2. fib relations are respected in individual ABC waves. 3. 5th bearish Elliott wave withing wave C soon completed. (minor EW 1-5 as shown on chart) 4. Bullish divergence noted on the RSI charts 5. Volume and price action showing oversold status 6. MACD 4HR chart is showing promising signs of a reversal point approaching. 7. GAPS above need to get filled. (92% of all gaps in the markets get filled)
NYSE:RESLong
by Seriouz