3-Nov-2023 :Are bad days coming to an end? Keeping it Simple with Price Action & Technical Analysis
RMD bottoming out and good to rebound ?? Well, it does look like so when we analyze the charts. Here is the Weekly chart of RMD and what I see;
* SInce end week of Jul'23, RMD went into a sharp downfall. * It hit a :floor" at 21.0 in end-Oct'23, and since then has been oscillating between 21 and 24. * The price can be seen as "bottomed-out" at 21 since end-Sep, however Bullish Divergence seen in RSI14, which is inching UP. * Key level to check is the breakout from the WHITE trendline and also a breakout from 24.0 level resistance.
In my opinion, looks like RMD is raring to get into better days ahead.
RMD Price at posting:
$23.15 Sentiment: Buy Disclosure: Not Held
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