Welcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at ASX:RSG ...
I believe this code is at a point of potential volatility.
If price can hold above $0.425 ... Bullish potential may be unlocked.
My key upside targets include:
- $0.510 (Conservative)
- $0.590 (Medium)
- $0.720 (Aggressive)
...
RSG looks to have found a bottom.
short term - wedge setup .....
need 2 break out confirmations and ill buy more.
long term ., RSG is at the lower band of the range.
pick a bottom and hope RSG doesnt go bust like
TRY and BDR.
RSG @ support levels for long term
and short term charts.
falling wedge setup on the daily chart and
long term support @ 22 cents.
sentiment on GOLD has been quite negative so
time is close to load up on the gold miners again.
RSG is one of them.
a quick comparison of gold price vs resolute mining ASX:RSG.
RSG doubled it's shares on issue between 2014 to 2021 so the price chart is a bit misleading.
Gold & gold miners, how out of favor they have been.....
Treasury yields are rising a bearish sign for gold? perhaps...
YCC is around the corner, this will provide the catalyst for a reversal from bear to bull.
TP zones as marked, Goodluck.
RSG on the hourly time frame, since the march 2020 fall has shown a recovery, followed by consolidation. This consolidation has come close to the previous low - approx. 90%
As long as a lower-low is not breached, this could be considered a great place to enter a long position, aiming for targets 1,2 & 3.
If a lower low is made (as indicated on chart), chart is...
Daily has a nice Double bottom setup, price needs to break the supply level for confirmation , it may make a Head and Shoulders Pattern as well. On the weekly we can see a trend line break out to make a wedge pattern
RSG has been following Gold and decoupled on the pullback and has yet to catch up.
Long position with a target of Gold 1350 and RSG 130-135 in the short term
