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...
$RYAM has a nice gap from May2019 and just had good earnings report. If it breaks the 618 fib it should be an easy run to the 718 for 36%! Options are available as well!
RYAM has support on a trend line and the 20MA, hopefully it continues upward! If it breaks downward, it might hurt until it can find support maybe around the $6-$8 range.
I have been watching RYAM for a longg time waiting for this breakout and its coming and its going to explode like GCI did. You obviously want to trade BOTH trend breaks. So you entry is a full candle AND retest of these breaks will update later. I have 4 alerts including volume alert.
After the release of good financials on Feb. 24, there is a significant increase in volume in RYAM. Many buyers have entered the market here.
This results in a nice setup for a swing trade of several days in the daily chart.
The overriding trend in the weekly chart also confirms the current market direction.
It is quite possible that already today at market...
Top (daily): RYAM has pulled back into the all important $6.00 level and the upper side of the rising parallel channel, which is now holding as support after twice before acting as resistance
Bottom (weekly): longer term context of $6.00 level, if RYAM can stay above it, the stock could complete the right side of a rounded bottom, as fast as the drop occurred...
I posted about NYSE:RYAM couple months back when it was setting up for an ascending triangle breakout. The stock completed that breakout and now seems to be setting up another breakout entry above $4.70 level. The stock tested that level multiple times in the last 2 months and has been trading in narrow range body candles right under pattern resistance on very...
RYAM showing relative strength with buying pressure the last 3 days and breakout from 3 month ascending triangle chart pattern today. Price target up around $5 and identified on the chart.
