Potential outside week and bullish potential for RMS

2 בפבר׳

Entry conditions:
(i) higher share price for RMS above the level of the potential outside week noted on 31st January (i.e.: above the level of $2.48).

Stop loss for the trade would be:
(i) below the low of the outside week on 28th January (i.e.: below $2.26), should the trade activate.

8 בפבר׳

עסקה פעילה

UPDATE (week ending 07-Feb): Trade activated Monday 3rd February with above average volume and market recognition following release of quarterly earnings report the prior week. Share price continued to ascend during the week with a 'dip' at the end of the week whilst maintaining a price above the 10 and 30 day MA's. Current breakout in price is supported by the potential support/resistance area of $2.49 from the open of 23rd October 2024 (not proven unless tested), although a further high from this point would be an indication of strength in the share price since this would be a further all-time high at that stage. Charts suggest the use of a trailing stop and monitoring of indicators such as DMI/ADX and RSI.

15 בפבר׳

הערה

UPDATE (week ending 14-Feb): Fairly sideways action over the past week in share price for RMS, awaiting for movement in one direction or the other. Interesting to note that the share price bounced off the 10 day MA to the upside on Wednesday alongside an improvement with DMI/ADX and RSI indicators. A breakout to new highs would suggest raising stops to a profitable area of just under the then proven support area of $2.49 from the open of 23rd October 2024 (noted in last week's comment) or under the then new swing low of $2.56 from 12th February, depending on aggressiveness / risk tolerance. Trade moved to 'further bullish potential' watchlist.

אתמול

הערה

UPDATE (week ending 21-Feb): As suggested in last week's note, with the breakout to new highs, the charts are now suggesting a raise of profitable stops to under the new swing low of $2.56.