Hi Strugglin,
As a starter I'd suggest you read Stan Weinstein's 1988 book, Secrets for Profiting in Bull and Bear Markets.
It is, in my opinion, a classic and a must read for anybody wanting to get a start for improving their skills.
I was doing a scan of the 20 Resources stocks. And RRL came up as a stand-out.
I usually only post on the XJO forum, but thought I'd have a look here to see what was being said.
Anyway, here's a current chart for RRL:
It has one of the best Mansfield Relative Strength readings amongst the 20 Resources. (That's a starting point from Weinstein.)
It has recently moved back above the 200-Day MA. The 200-Day MA is a common dividing line between bull and bear markets. (From memory, this is the only stock in the 20 Resources which is above its 200-Day MA. So that is a recommendation in itself as to its current strength.)
The DPO is above Zero, so is the DMI Historgram.
So long as it can maintain its position above the 200-Day MA and DPO and DMI Histogram remain positive - then "buy the dips".
One way of doing that is to watch the Stochastic indicator. When it drops below 20 and then rises back above 20 - buy.
Use stops to avoid an unexpected fall - which is a possibility in this current volatile market.
No guarantees - but RRL has a fair bit going for it - in an otherwise very bearish market.
Redbacka
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- Regis Resources - Chart Discussion 23 August 2015
Hi Strugglin, As a starter I'd suggest you read Stan Weinstein's...
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Last
$1.64 |
Change
0.010(0.61%) |
Mkt cap ! $1.238B |
Open | High | Low | Value | Volume |
$1.68 | $1.68 | $1.64 | $4.828M | 2.924M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 13636 | $1.64 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.64 | 1522 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 1.635 |
5 | 84580 | 1.630 |
5 | 62986 | 1.625 |
2 | 32341 | 1.620 |
1 | 5497 | 1.615 |
Price($) | Vol. | No. |
---|---|---|
1.640 | 1522 | 1 |
1.645 | 14869 | 2 |
1.655 | 78930 | 4 |
1.660 | 41386 | 4 |
1.665 | 55264 | 3 |
Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
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RRL (ASX) Chart |