Beautiful weekly chart here for $RHI
Stock has formed the first descending triangle in 2018 (bottom line support is the FEB'18 low and top of the triangle is the AUG'18 high)
After the DEC'18 correction stock is forming a second descending triangle ( DEC'18 support line and APR'19 high top of the triangle)
Price action last week saw the breakout from the first triangle on the back of good earnings report and yesterday on the back of the strong overall market the stock is trying to breakout from the second triangle
MACD and RSI both support the move up
Ideally look for a close this week above the descending line of the second triangle to participate
Targets:
T1 - measured move from the small triangle around 75.44
T2 - measured move from the big triangle around 84.86
Good luck,
TA
Stock has formed the first descending triangle in 2018 (bottom line support is the FEB'18 low and top of the triangle is the AUG'18 high)
After the DEC'18 correction stock is forming a second descending triangle ( DEC'18 support line and APR'19 high top of the triangle)
Price action last week saw the breakout from the first triangle on the back of good earnings report and yesterday on the back of the strong overall market the stock is trying to breakout from the second triangle
MACD and RSI both support the move up
Ideally look for a close this week above the descending line of the second triangle to participate
Targets:
T1 - measured move from the small triangle around 75.44
T2 - measured move from the big triangle around 84.86
Good luck,
TA
Trade closed: stop reached:
Stop on the breach of 50 level
TA
TA