Posted On: 01/05/2014 12:57:12 PM
Post# of 2561
RIBT Daily Chart ~ Responding to the Pinch
I initially shared RIBT because of the Pinch Formation. Link back to December 26 for my comments. Since then I've learned quite a bit thru some DD on the company and have taken a position in the low 5.00s. When the pinch of the PPO and ADX began to open, the stock was trading just over 4.70. My thoughts on the chart at the moment are that once the stock clears 6.00, it could see some strong upside with a little bit of resistance at 8.00 and 12.00. The longer moving averages, 50, 100, and 200, are in decline, so the stock will encounter those in the 9.00-12.00 levels along the way. The FullSto and MACDs are showing nice separation. Someone stepped in with some huge accumulation once the stock fell below 6.00. My guess is that those investors know a lot about this company in order to add aggressively at the lows. I like what I see, so I'll probably be putting some of those XRX and DRYS funds to work with more shares of RIBT tomorrow. GLTA
I initially shared RIBT because of the Pinch Formation. Link back to December 26 for my comments. Since then I've learned quite a bit thru some DD on the company and have taken a position in the low 5.00s. When the pinch of the PPO and ADX began to open, the stock was trading just over 4.70. My thoughts on the chart at the moment are that once the stock clears 6.00, it could see some strong upside with a little bit of resistance at 8.00 and 12.00. The longer moving averages, 50, 100, and 200, are in decline, so the stock will encounter those in the 9.00-12.00 levels along the way. The FullSto and MACDs are showing nice separation. Someone stepped in with some huge accumulation once the stock fell below 6.00. My guess is that those investors know a lot about this company in order to add aggressively at the lows. I like what I see, so I'll probably be putting some of those XRX and DRYS funds to work with more shares of RIBT tomorrow. GLTA
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