RCUS has reacted higher after bouncing from a confluence of support:
1) 200 EMA
2) 50% retracement
3) VWAP from all time low
*You can see how the 200 EMA and VWAP from all time low previously acted as the floor back in March
-Now supported strongly by 50 EMA, RCUS closed above the 50 EMA every day this week, and 7 of the last 8 days, with the exception appearing to be a 'gap fill.'
-I am looking for RCUS to continue to find support on the 50 EMA or the VWAP from the 200 EMA bounce
-Close above the $25.5 level is the buy trigger, which will also complete an inverse H&S pattern which has been forming for the last month
1) 200 EMA
2) 50% retracement
3) VWAP from all time low
*You can see how the 200 EMA and VWAP from all time low previously acted as the floor back in March
-Now supported strongly by 50 EMA, RCUS closed above the 50 EMA every day this week, and 7 of the last 8 days, with the exception appearing to be a 'gap fill.'
-I am looking for RCUS to continue to find support on the 50 EMA or the VWAP from the 200 EMA bounce
-Close above the $25.5 level is the buy trigger, which will also complete an inverse H&S pattern which has been forming for the last month
Comment:
Nice reversal candle off 200 EMA, great low risk entry opportunity