Morning. Watch this video as a bit of an introduction to this set up: https://www.youtube.com/watch?v=WMSmWmP0arc&t=1s
In terms of what it looks like, here is my chart (below). A stock will hit a point of resistance, and then move up to retest it - if it closes above this line (with good volume), it is a buy. As a general rule, the price target is the height of the set up (from support to resistance). In this case, the price target would be roughly around 0.28, which also happens to be where the 200 day SMA line is sitting. For me, if it reaches around 28 cents, I might sell - depends. If it forms a new line of resistance, then breaks out from that, I would add to the position - my strategy is to add to a winning position - and setup a trailing stop loss.
RXL Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)