$RSG is showing all the signs of the beginning of a new multi week trend
1) Weekly break out of a consolidation level has held for 2 weeks, indicating that this is unlikely to be a false break
2) ADX has begun to rise very sharply. Some of the most powerful trends start at a base of the low teens then jump suddenly to the high teens in a matter of a couple of bars. This is perhaps the most powerful use of the ADX for gauging what is likely to be the beginning of a new trend (i.e. how quickly it rises from a low). Because RSG has been in a sideways consolidation for so long the potential is very large.
3) RSI is not even overbought yet indicating that this is really the ideal time to hop into what could be a very long trend.
4) A close above the $42.50's is a weekly record print
5) Closing above upper bollinger for the third week in a row
DYOR as always
1) Weekly break out of a consolidation level has held for 2 weeks, indicating that this is unlikely to be a false break
2) ADX has begun to rise very sharply. Some of the most powerful trends start at a base of the low teens then jump suddenly to the high teens in a matter of a couple of bars. This is perhaps the most powerful use of the ADX for gauging what is likely to be the beginning of a new trend (i.e. how quickly it rises from a low). Because RSG has been in a sideways consolidation for so long the potential is very large.
3) RSI is not even overbought yet indicating that this is really the ideal time to hop into what could be a very long trend.
4) A close above the $42.50's is a weekly record print
5) Closing above upper bollinger for the third week in a row
DYOR as always