RYAM seems forming a flag formation, however it needs to break through its resistance. We think it can go up to $21 are if it can break above $17.54
* Trade Criteria *
Date First Found- June 6, 2017
Pattern/Why- Flag formation
Entry Target Criteria- Break of $17.54
Exit Target Criteria- $20.83
Stop Loss Criteria- $16.37
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After the company reported better than expected 2016 first quarter earnings and revenue the price is pointing straight up. From a technical point of view the price in now above double bottom neckline and above 200 MA, showing a possible trend reversal on daily chart. Other details on chart.