Based on some of the stochastic signals highlighted in the chart, I think we begin to see a short term reversal in Resolute Forest Products stock price. I'm looking for $RFP to move over 4.50, and if it does, I hope to see continuation to the resistance point of 4.85.
RFP is forming flag formation with nice positive Moneyflow divergence. Looking very good as long.
You can check detailed analysis on RFP in the trading room/ Executive summary link here-
www.youtube.com
Time Span- 5:20"
Trade Status: Pending
Resolute Forest Products is a good value stock that is trading at a balance extreme and has a cup and handle pattern.
It is held by Prem Watsa of Fairfax Financial.
I would look for trades on the long side after earnings if it is an earnings winner.
Resolute Forest Products, Inc. provides forest products. It owns and operates pulp & paper mills, and wood products facilities located in the United States, Canada and South Korea. The company operates its business through the following segments: Newsprint, Specialty Papers, Tissue, Market Pulp and Wood Products. It also produces lumber and other wood products for the residential-construction and home-renovation markets, as well as for specialized structural and industrial applications. Resolute Forest Products was founded on January 25, 2007 and is headquartered in Montreal, Canada.
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RFP
