RAC - Charts & Price Action, page-4930

What a day, we have traded down on great news.

We are still trading within the Keltner Channel, with the Bollinger Band Squeeze still in play. Still no signal to indicate any change.
The upper Bollinger line has not moved with the lower line starting to move out of the Keltner Channel very slightly.
Today we finished in the lower half of the Keltner Channel, it is quite common for RAC to trade for extended periods in the lower channel with one or two attempted breakouts. History shows us that RAC rarely fall below the lower Bollinger line and never during a Squeeze having said that if it were to close outside the Lower Bollinger line I would expect it to fall further with increased volatility.

Volume was a little higher today but well within the range for a Squeeze this leads us to tomorrow and the most likely out come for the week

As tomorrow is the last trading day for the week I expect volume to stay low with day traders closing out their books for the week, and should trade higher than today as the trading day is progressing to a close.

I also expect the Squeeze to continue into next week hope everyone is enjoying the buying opportunity this brings.



All the best

FireflyOne
The writer's opinions are his own and do not constitute financial advice in any ways.Nothing here constitutes an investment recommendation nor should anything written here or published by myself be relied upon for any investment activities.I strongly recommend that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.