A close above 16c is significant for RSH. The stock is doing...

A close above 16c is significant for RSH. The stock is doing pretty well in the face of a decent broader market sell off.

The price action today sees the MACD positive cross reinforced which is certainly interesting with the price action at the 16.5c/17c mark. RSI back above what some see as a meaningful level as it continues to trend higher. A close at 16.5c or better would keep the top side bollinger dance in play.

Very comfortable to continue to add to a position here if I get the chance at the 15day MA. I won't be surprised if i don't get this opportunity though.



Make no mistake this move north of the 16c mark is meaningful for the longer term setup with 3 rejections of this level followed by a nice consolidation around this level before making a move through this significant level.