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ZeroEdgeCapital

RRC Breaks Below Long Term Channel

Short
Range Resources Corporation (NYSE:RRC)  
ZeroEdgeCapital Updated   
NYSE:RRC   Range Resources Corporation
Support and Resistance Trend Lines Parallel Channel
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supportandresistance trendline parallelchannel
RRC has broken well below the long term channel that has been forming since the beginning of this year. One might consider shorting this to around 11.93 which is long term support/ resistance, a 20% gain. A possible move to that area is confirmed by the height of the channel. One might consider a stop loss at 15.40 to be conservative.
Trade closed: target reached
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