Posted On: 01/05/2014 11:54:41 AM
Post# of 2561
RPRX Daily Chart ~ Breakout Underway
It's best to link back to my two prior posts on RPRX on November 27 when the stock was 15.20 and on December 2 at 17.15. The horizontal resistance line has been in place at 18.75 since late October, and that line was taken out on Friday after sending the last 1.5 weeks trying to bust thru it. A bounce off the middle bollie last week was the key for the new high. Now the closing of the gap to the high 23.00 level is in play with a little bit of expected resistance just above 20.00 by the MA100. Doesn't sound like much yet, but from my first mention in late November, RPRX is now up almost 30%, not bad for a swing trade using the more conservative type of trading funds. I may add a few shares tomorrow on this breakout. As always, it typically takes more than one day to confirm a breakout. The volume has been low the last week, so I'd like to see that pick up quickly. GLTA
It's best to link back to my two prior posts on RPRX on November 27 when the stock was 15.20 and on December 2 at 17.15. The horizontal resistance line has been in place at 18.75 since late October, and that line was taken out on Friday after sending the last 1.5 weeks trying to bust thru it. A bounce off the middle bollie last week was the key for the new high. Now the closing of the gap to the high 23.00 level is in play with a little bit of expected resistance just above 20.00 by the MA100. Doesn't sound like much yet, but from my first mention in late November, RPRX is now up almost 30%, not bad for a swing trade using the more conservative type of trading funds. I may add a few shares tomorrow on this breakout. As always, it typically takes more than one day to confirm a breakout. The volume has been low the last week, so I'd like to see that pick up quickly. GLTA
(0)
(0)
