Trends and Targets for 17/07/2014 By Trends and Targets | Thu,...

Trends and Targets for 17/07/2014 By Trends and Targets | Thu, 17th July 2014 - 01:05 RANGE RESOURCES (LSE:RRL) has managed a miracle movement in the last few months, something very few shares achieve once their price has been trashed as thoroughly as this was. Perhaps there's a lesson here as the share price had been methodically reduced by 12% every single month over a year. Perhaps if such control is taken on the way down, it signals that when the control is eased, growth can be rapid in comparison. To get the good news out of the way first, we're showing near term movement above 2.69 has having a target of 2.75p. If there's going to be any nonsense, this is a level we'd tend expect some stutters but in the event of the price managing to close above 2.75p, we're looking at 3.25 as our next major point of interest. Obviously, we calculate further targets above such a level but the route taken to 3.25p is fairly critical before we start embracing blind optimism. As for the dangers of the current upward cycle, the price is climbing rather nicely and would need break 1.95 to justify alarm as this permits 1.5, maybe even 1.225p. But visually, it doesn't suck. Tomorrow, our PR headline piece will be on Berkeley Min. (BMR) If RRL can climb from the grave, so perhaps will this. Scotland Resources Posts: 1234 Joined: May 2013