Giving upside potential base don Elliott wave analyst. Currently this in wave 3 of Elliott wave in weekly charts.
Detected in the latest scan for the week (detailed commentary and full scan results available in the signature below), RMS represents a potential bullish opportunity should momentum continue and newer highs be made past the current position. As described in the analyses of the week, a recent outside week has confirmed and a potential breakout is currently active,...
RMS is trending back to the upper bound. $2.11 is a good place to start selling.
To long RMS Trade setup : breakout of Triangle LIKE Candle breakout from the top range. With healthy size candle Decent volume compared to last 5-6 candle Above EMA in trend DISLIKE Price did not followup to break with momentum Came back to retest Overall bearish sentiment of market during open
daily = invesrse head and shoulders and breakout of pruple trend line. GOLD sitting just under $2K US. gold price breakout is imminent and the miners WILL follow in suit.
getting good support on trend line at $1.36 if keeps consolidating for few days should go long to 1.62 for about 15% gain 3-4 week time frame
RMS breakout with target market on the change RMS broke out on decent volume. Looking for a move above the "level" and then to see if it uses that same level as support. this will be confirmation. The next level is the target that is marked on the chart and a potential profit taking zone for short term traders.
RMS has broken through a longer term trendline with some bullish implications. The price control line for the bars shown is at 1.715 and there has been significant trading here and through to 1.80 (seen by volume histogram on the right) Buying volume has stepped in this week and Twiggs Money Flow looks set top pop above zero. As well the Stochastics are showing...
RMS charts looking bullish like most ASX gold miners. the downtrend in price has paused and price is looking to initiate a new up trend. wait for the confirmation break on daily chart and load up.
GDX looking to reverse Long list of these mid caps also looking to turn bullish after a 3 month downtrend time is now on the retrace to take final positions accumulate should be a big wave (3) for 2021-22 cheers Toby
dunno why theres a bug that never shows the correct timeframe chart. so i will show all 3.
RMS added to asx200 recently. funds will be forced to buy it. just made all time new high. long term target level is $3.60
Nice little bench formed up here, consoldation and now trying to push out froma 4 week base breakout.
I took a small position at 1.24 on RMS, on the chart 23/04 it's broken the trendline, putting the system and patience into practice. Today I sold half of my position at 1.70 to de-risk my position and let the rest RIDE.
RMS has been going sideways for a while now. its been almost 1 year of consolidation. Soon we will find out if more buyers come in.
Hopefully has found support at the 80 cents mark on both the horizontal historical support level as well as the 90 day linear regression support trading range. Possible 20% upside to get back to the top of the channel. Risk of 8% or so if it breaks and heads down to the next support level. I already hold a few so will see where it goes. I have a stop loss at 75...