Potential outside week and bullish potential for RWC

Jun 27

Entry conditions:
(i) higher share price for RWC above the level of the potential outside week noted on 25th/26th June (i.e.: above the level of $3.91).

Stop loss for the trade would be:
(i) below the low of the outside week on 23rd June (i.e.: below $3.46), should the trade activate.

Jul 3

Trade active

UPDATE (week ending 03-Jul): Trade activated on Tuesday 30th June, albeit on low volume, with share price bouncing off short-term moving averages towards the end of the trading week.

Jul 10

Note

UPDATE (week ending 10-Jul): Lower highs and lower lows formed on the daily chart respecting the short-term moving averages to the downside. Share price is currently still respecting the 200 day moving average to the upside for anyone wishing to remain in the trade.

Jul 17

Note

UPDATE (week ending 17-Jul): Share price continues to respect the 200 day moving average at the present time, now also respecting the short term moving averages of the 8 and 15 day EMA's to the upside. Caution still warranted - consider raising protective stops to a level beneath the recent swing lows to minimise risk.

Jul 25

Trade closed: stop reached

UPDATE (week ending 24-Jul): Caution noted in last week's comment was certainly warranted, with recent swing lows violated on the daily chart in this past week's trade - protective stop triggered and trade closed out.