RCE 4.21% 45.5¢ recce pharmaceuticals ltd

RCE Charts, page-931

  1. YLJ
    819 Posts.
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    RCE reached the Measured Target of the Falling Wedge yesterday. I was watching the break-away gap from
    the pattern and hesitated a little too long... and did not chase it. Well done to anyone who caught it.
    I would expect some consolidation/retracement here, but you never know. On technicals alone, I personally would
    be aggressively protecting some profit at this level, but giving it a small amount of room to continue if it wants to.
    The Target of the wedge could be seen as the upper boundary of a slightly larger (but a bit ugly) Rectangle information.
    If it retraces enough to give second touch more substance,
    I will look at entering a breakout of that level if it completes.
    GLTA
    Last edited by YLJ: 16/04/21
 
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