Swing Trade Watch - 12Jan2025 - $RRCOne to watch for a short term swing trade - NYSE:RRC
Note: This is not a recommendation or investment advice, just a stock to watch. Do your own research before investing.
RRC trade ideas
Range Resources | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Range Resources
- Double Formation
* Trend Line | Short Continuation
* Neckline At 32.00 USD | Subdivision 1
- Triple Formation
* Support Template | Long Set Up | Subdivision 2
* 012345 | Template Ending At 38.10
* 29.30 USD | Daily Time Frame Confirming Number | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
Range Resources Corporation | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
Long - swingSmall position, earning out soon. Buy stop limit, only purchase if the stop is not violated first. Trail with higher lows.
Range Resources Breaking Out $RRCOil & Gas stocks are setting up and breaking out all over the place. XLE and XOP are in really nice pullback buy levels. XOM setup and breakout is a tell imo. Commodities acting well. RRC has been sideways for a nearly a year and appears to breaking out of a cup and handle formation. I'm long via Dec $37 calls today.
$RRC has a huge potential for the next 3 yearsNYSE:RRC painted rounding bottom on 1w timeframe, as well as it drew a cup with handle on 1h timeframe. It strictly hitting a key levels on all the timeframes and exactly shows readiness for the next ascending steps.
I propose, we will be able to watch a good long till the end of 2023. If it happens, it will mean a clear next investing points for 2024-2026 years.
Everyone, who have enough patience, with a high probability will take achieves.
1 week timeframe:
1 hour timeframe:
Does not constitute a recommendation
#investing #stocks #idea #forecast #furoreggs
$RRC, An energy stock that can rock and roll into the new yrRange Resources price action shows strength. It has a great set up to run into the new year and test historical resistance in the 45-50 dollar area. It is levered to oil and natural gas prices which are expected to rise.
Long RRCI am long-term bullish on RRC as I see their bullish flag which if can break above it could make new highs (20-50 days) interesting to watch this underlying.
RRC (Long) - Strong outperformance within the energy sectorFundamentals
The fundamentals are obviously strong after the last year and a half
The revenue and profits skyrocketed as the price of oil went up. All the measures possible are flashing green, whether its EPS growth, ROE, ROA, debt-to-equity etc.
Valuation is still low , just like the wider energy market, due to ESG reasons and just a general unwillingness to participate in the oil industry
The recession fears are bringing estimates of most measures significantly lower but these aspects have already been accounted for in the price
I also believe that after the outperformance of the growth part of the market, flows will start circling back from growth into parts of value (energy)
Technicals
This trade is however more about the technicals than fundamentals
The thing that attracted me the most to this chart is the outperformance of RRC (bottom of the daily chart) relative to the energy sector, which has been struggling as of late. Despite the weakness in energy and oil, RRC has been accumulating and building a base
The base was finished after stellar earnings, and is currently on the brink of a breakout
That would also complete a massive bull flag on a weekly chart
All your typical indicators are also flashing a buy, while analysts are increasing their price targets
Trade
As I already mentioned, we are currently on the brink of breaking higher through a crucial resistance level
The stock is currently consolidating and I am waiting for a signal that the price is about to burst higher, where I would happily buy
Caveats include mainly a breakdown in the price of oil and fake breakout higher; definitely watch out for these
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Long RRC @ 24.601/3 Position
Natural gas company with amongst the best hedges to protect their revenue and profits during this natural gas downturn. Natural gas also looks to be bottoming @ 2.00.
Entry: 24.60
To add on further pullback
Range Resources Inverse Cup & Handles. Well I must stick to the TAPE, as the Fundamentals show how wrong I was.
I Hope the stock gets support in the BUY Zone where I can ADD to my position.
Enjoy the RISK.
Regards Graham.
RRC Holding the mother of all support Back testing like this always leads to a nasty Move one way or another. I really Like THE 3/17/23 25c TRADING AT 1.15 per contract,. It also has a nice setup for a straight shares purchase. One can even use a Put as a collar. So the trade has a few options. We can go to old faithful and write June 18P for a .75 credit, Or buy 100 shares at current price and Buy a put 1 strike below cost basis or we can play the long call and Put collar keeping it cheap. High R R is always a popular approach
RRC - Wave 2 Ending Making Way for Wave 3 RallyRange Resources rallied from $1.61 all the way over $37 for an impressive over 2,100% gain. Since, the stock has cooled to allow for profit taking and reset for the next move up. RRC appears to be in some sort of an ending diagonal with a 3-3-3-3-3 structure. Time will tell how it plays out, but it appears to be setting up for an incredible opportunity.
RRC bearish hammer on dailyNot the perfect bearish hammer on daily, but nothing is perfect. Have room to go down to MA 200.
RRC bearish hammer on daily bearish candle below 10 EMANice consolidation at point of control after bearish hammer and first bear candle closing below 10 EMA.
If we break down expect a nice downward impulse.
$RRC Looking Pretty GoodI have positions in $EQT $OXY $CLR but $RRC is another #energy name that's looking pretty good.
Note again, most #oil names have their 50s slowing down (red). Some more than others. So high chance price across many pullback to give that 50 line time turn back up (think gravity).
RCC Setting Upquite a few #oil stock setting up despite oil futures looking like they want to break down. Believe stocks?
$RRC, cup & handle with a explosion gap pivot play Range Resources Corp is in the exploration and production of AMEX:USO and AMEX:UNG in the US.
It was recentlty feature in IBD and got me interested because its good looking cup & handle. Today managed to breakout with a gap. This gap should act as resistance.
As the market still needs to prove itself, I won't buy this breakout but the breakout from today's high with a stop loss just below yesterday's high. This strategy is called Explosion Gap Pivot. It uses the gap range as support.
$RRC ~ Correction in progress...As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. Recommend tracking this sector very closely for amazing opportunities.
LongNASDAQ:PLUG
Here’s what i see:
1. Accumulation
2. Mark up
3. Distribution
4. Mark down
5. Strong area of support
LongNYSE:RRC
Here’s what i see:
1. Accumulation
2. Mark up
3. Distribution
4. Mark down
5.Area of support line
