share price is currently trading underthe 21,50 and 200 mda. the 200 mda curerntly at 50c is acts as a support and resistance line as you can see by the chart. Right now the 200mda is resistance and it will take volume to break. RES looks like its going through a period of consolidation (accumulation) right now and it looks like a triangle is forming which means a break will occur either up or down soon. It also looks like there is a bunch of support at 40c so if the break is down it wont cause too much damage. If this can push above 52c (50dma) it will be very bullish. It is oversold as of now so im guessing that it will move higher, im a little biased though as im big on SA coal. I dont hold, wouldnt mind holding this one but have no funds available.
RES Price at posting:
48.0¢ Sentiment: Buy Disclosure: Not Held
