I love holding Sturm Ruger stock, and it returned me a cool 30% last time I held it from buying at $50 and taking profit at $65 after the Parkland shooting. RGR has an inverse relationship with news media sentiment for the firearm industry because they're customers are driven by fear as much as enjoyment of owning and operating firearms. Every time the news media reports on a high fatality count shooting, RGR and the other firearm and ammunition industries go up because their customers fear a ban and go drive short term sales in a way that resembles a bank run. It's so predictable, you could set a clock by it.
First level resistance will be $52.50 likely crossing the 20 or 50 day SMA within a week or two with it easily sailing through if this is a real trend and not a false breakout. Expect a more firm resistance at $56.50 coming up at the 200 day SMA with the sky the limit depending on how long this gun control media cycle starts up again. I even went out and stocked up on equipment myself to get ahead of rising prices anticipating a surging demand.
MACD is showing a strong reversal after stalling downward action in the prior weeks. We're hitting of a yearly low, so news like this is a harbinger of a strong regime change in the opposite direction. The price is rising off an RSI low at 28 and rising up through signalling a buy on that tried and true value investor indicator. Expect money flow and price momentum to rising and go positive very soon as a trend confirmation indicator if you're nervous about going long right away. Volume spikes huge on Friday, but didn't drive the price up too much yet, so there's still time to get in on this one at the ground floor.
I've already gone long and plan to hold for a few weeks to a few months to enjoy the full run of this cycle back upward. It's not my first time to this rodeo.
First level resistance will be $52.50 likely crossing the 20 or 50 day SMA within a week or two with it easily sailing through if this is a real trend and not a false breakout. Expect a more firm resistance at $56.50 coming up at the 200 day SMA with the sky the limit depending on how long this gun control media cycle starts up again. I even went out and stocked up on equipment myself to get ahead of rising prices anticipating a surging demand.
MACD is showing a strong reversal after stalling downward action in the prior weeks. We're hitting of a yearly low, so news like this is a harbinger of a strong regime change in the opposite direction. The price is rising off an RSI low at 28 and rising up through signalling a buy on that tried and true value investor indicator. Expect money flow and price momentum to rising and go positive very soon as a trend confirmation indicator if you're nervous about going long right away. Volume spikes huge on Friday, but didn't drive the price up too much yet, so there's still time to get in on this one at the ground floor.
I've already gone long and plan to hold for a few weeks to a few months to enjoy the full run of this cycle back upward. It's not my first time to this rodeo.