As a rule of thumb if it's above the 50MA it's bullish, below it's bearish...closing above after rejecting below is quite bullish.Still needs to confirm tomorrow and rest of the week but today will look like a bear trap come next week.Yesterday was what we wanted to see, low volume with no selling pressure and today increased volume with the share price moving up is confirming that drop was a bear trap and in hindsight quite an orchestrated move.
To answer your question Jimmy, yeah there is a Cup and Handle formed, the Cup has fully completed with the handle now playing out.
Based on the Cup and Handle, the share price target is 2.1c as it's measured by the depth of the cup (0.009) and from the top point of the handle end (1.4c)
Needs to break that 1.4c wall but its nothing that we haven't seen done, but once that does it should confirm the complete breakout of the C&H.
above: my chart from last Friday noting the coming breakout with 1.7c as the first target.
New high today with 1.9c and a new high close since the acquisition of the lithium projects and rare earth projects.
The C&H target as noted from my previous post above, is 2.1c and today smashed through the first target of the Butterfly breakout target of 1.7c and the second target being the 161.8% of Point C&D gives the same price target as the Cup and Handle of 2.1c which is a positive when two different patterns provide the same target result.
Volume substantially increased today with 81.1m traded last Friday and 212.9m traded today, confirming the breakout for a second day.
Broke through multiple resistance levels of 1.5c, 1.6c and 1.7c strongly with volume to close at a new high of 1.9c but may see a potential backtest of those resistance levels as they now become the new support bases, but with news due in October a few weeks away that may not occur but RR1 has had a habit of these backtests and attempted bear traps with two so far occuring.
The assays due will be the catalyst and a big turning point for RR1, if the results come back similar to those of Delta given the continuous geology then the 2.1c target will be a thing of the past. Charts provide a short term guidance but fundamentals is where the money is made.
Let's see how the rest of the week goes.
Updated Chart as of today (18.10.23) 
