posted
I've been watching RNAI since it's recent rise and I think it's about to decide to bust out again. One guy tells me the shape of the chart is a "G pattern" with a "G spot" at $5 (I admit to not knowing about those things, but I never got complaints). However, I do think it fits the characteristics of what Toni Turner calls a "penant" in her books on day trading and swing trading. So, I agree that the stock is set to break either up or down. Late today, it made a good rally before closing and I'm inclined to think there are enough buyers looking at it that when it goes, it goes up strong. Clearly resistance at $5 is the threshold for a run up, but it needs to hold above $5, which it couldn't do tuesday. I think if enough volume shows up to get it over $5 and hold it there a while, it will result in a decent run.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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