RRL looking good, cheap prices, recovering, page-7

All of this is IMHO, speculation from someone who's only studied technical analysis for a month or so, take everything with a grain of salt:

RRL is near the upper end of the bollinger band on the daily chart.

RRL is approaching it's 20 week average trend line (downwards).

IMO, for a trend reversal to happen RRL must break $1.96, not just by a little, but convincingly and with conviction, i.e in one week rally to $2.10+. Otherwise it'll bounce against the trend line back down to the lower half of the bollinger band, and I'll have to wait and see the next time it approaches the trend line.

RRL's weekly chart's RSI is approaching overbought levels, the current momentum is still here but I don't think it can be maintained for too long.

The recovery of RRL from it's lows in the $1.30's has brought sentiment running high.

It is of my opinion, buyers will run out and RRL will correct, even if RRL may have good prospects over next few months.

If RRL is unable to break through the weekly 20MA this or next week, or forms a false break, IMO RRL could correct back down to $1.60's. (I'll put a time on it - say, September)

I'm going to stay out until it's clear to me RRL has reversed the down trend.