Interesting series of patterns on RSG since the formation of the H&S top formed July-Sep 2019 (not shown on chart). It subsequently formed a bearish Continuation H&S at the target level and proceeded to it's low in mid-March this year. It has since formed and broken out from what can be viewed as either a H&S bottom or an Ascending Triangle (if you do not like the asymmetrical look of the H&S). The breakout on 14 May was stopped short and has formed a bullish Continuation H&S with a breakout last Wednesday (July 1st). The subsequent retest of the neckline slightly penetrated it, but not enough to hit a properly placed stop. I did not see or take that trade (& probably would not have) but I have taken an entry this morning with a tight stop placed below the swing low, (one of the advantages trading a retest). Will see how it behaves and will likely cut it if it mucks around for too long, but worth a shot IMHO.
Dotted blue lines are the measured targets, the higher being that of the H&S/Ascending Triangle and the lower that of the Continuation H&S.
GLTA
RSG Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)