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TraderFrans
Sep 13, 2017 6:46 PM

Long term opportunity in RRC (Range Resources Corporation) Long

Range Resources CorporationNYSE

Description

The share is heavily oversold and the stochastic has broken upwards.
The commodity channel index has also given a buy signal.
The double bottom will be confirmed above 18-17, below 16-81 the share will warn again.

Buy: 18-17
Stop loss: 16-80
Target: 22-22

Trade active

Double bottom is nicely in play but those who want to use a trailing stop can use $19-90

Comment

After the small pullback and again support. A higher low will be confirmed above $19-99 which will be seen as positive for more upside.

Trade closed: stop reached

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