Setup looking A++ with a topside breakout underway.
Sell side that has been sitting on the stock for the last couple of weeks looks to be running out of bullets as new interest is prepared to pay up!
A break of the important 16c mark now sees the share price on the topside bollinger band and capable of running hard under this scenario. MACD has cross positive (although hard to see on my chart) with RSI having plenty of room to move before we see 'over bought' signs.
Should be a very interesting week for RSH to say the least. Hope you've got your fill, cause iam not expecting much of a pull back in the short term.
Another refresh of the weekly / medium term setup and you can see how the 16c mark has played a pivotal point of resistance for the stock since 2018. THIS IS NOW CHANGING before your eyes and I expect that 16c will play a critical level of support after this week. All 3 indicators firing nicely at the moment as the next leg higher is in the early stages of playing out.
RSH Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
