RGSE Update - Possible 15% Profit from Friday & More to come?
As predicted, RGSE continued its upward
price movement today, continuing its break
over the 20ma on the daily and stopping at
a high of .3781, which is right around the line
of resistance I posted about being .376. If
you didn't exit with profit yet, I don't blame you.
RGSE still has bullish indicators that haven't
broken down yet. The RSI is still ascending,
and the Macd is still bullish above our signal line.
Price action is still holding the 20ma and 8ma
lines of support. So, RGSE is still in a playable
field if you got in around the .33's. Remember:
Our nearest major moving average is the 50ma
at .7085, but we have strong lines of S/R at
.35 and .376. A hold over .35 and a break over
.376 tomorrow with strong volume could push us
to .4387ish area in the near term as a swing play.
Any positive news catalyst and who knows what
could happen? I like the 20ma for stop loss support.
price movement today, continuing its break
over the 20ma on the daily and stopping at
a high of .3781, which is right around the line
of resistance I posted about being .376. If
you didn't exit with profit yet, I don't blame you.
RGSE still has bullish indicators that haven't
broken down yet. The RSI is still ascending,
and the Macd is still bullish above our signal line.
Price action is still holding the 20ma and 8ma
lines of support. So, RGSE is still in a playable
field if you got in around the .33's. Remember:
Our nearest major moving average is the 50ma
at .7085, but we have strong lines of S/R at
.35 and .376. A hold over .35 and a break over
.376 tomorrow with strong volume could push us
to .4387ish area in the near term as a swing play.
Any positive news catalyst and who knows what
could happen? I like the 20ma for stop loss support.