RYAM Long Idea - Daily - Target is $16.00 by Oct 29th

Similar setup to that last push up with the divergences. That support buying area goes all the way back to a double bottom in 9/2015 + 2/2016. Price also wicked into this area when forming the descending wedge that it is in.

I see the first lighter targets getting hit quickly before there is a retrace to find some support before resuming to final targets. Fib levels match up perfectly for this target and I really like this setup.

Trade active

Comment:

Double bottom divergence is playing out perfectly and RSI is above its EMA. This should break out of that descending wedge any day

Comment:

Building some momentum and RSI is behaving the same as the last run up in price