RMS has an interesting chart set up somewhat different to SLR.
A key difference with SLR is that they are yet to hit the price target, currently $2.02.
You can see the stock held support in the capitulation sell off in March.
Any consolidation or pull back will likely fill the pattern shown but yet to be confirmed.
A significant pull back and I anticipate buying in at around $1.30, the exit price from this potential pattern.
This will also be about a 50% reversal on the current upward leg.
I suspect RMS will form a pennant before breaking out without generating a buy signal.
Some of this is based on the pattern shown in the short term chart further down.
The short term chart has a double top. Todays' current low is already plotted.
Similar to SLR, a buy signal is generated but at some distance from the trend therefore further falls expected.
This chart has a choppy history, much due to takeover activity, now basically completed.
The double top suggests price is far more likely to fall vertically, possibly to trend with support beginning at $1.29.
Note this price is almost identical to the exit price stated above.
Any price below $1.48 is a good buy given the current target.
Unlike previous occasions, I expect support to hold on this chart this time around.
My A/D chart suggests this stock is being accumulated so sharp up/down moves appear more likely.
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Last
$1.94 |
Change
-0.060(3.00%) |
Mkt cap ! $2.219B |
Open | High | Low | Value | Volume |
$1.96 | $1.97 | $1.93 | $6.531M | 3.362M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 63723 | $1.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.94 | 33487 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 8366 | 1.935 |
3 | 17870 | 1.930 |
11 | 134239 | 1.925 |
3 | 31610 | 1.920 |
4 | 41059 | 1.915 |
Price($) | Vol. | No. |
---|---|---|
1.940 | 33487 | 2 |
1.945 | 119229 | 7 |
1.950 | 130266 | 8 |
1.955 | 152385 | 7 |
1.960 | 93728 | 4 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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