$RGBP Chart Analysis(Daily): We are looking to
Post# of 373
Posted On: 12/18/2015 12:50:36 PM
$RGBP Chart Analysis(Daily):
We are looking to break out our current price channel after being held down by short interests on FDA approval news. We are currently sitting at .19, which is now holding us above the 50MA and the 200MA, our RSI is nice and cool with room to uptrend at 58, accumulation line looking great(*yes, as in accumulation line did not crash despite the recent debacle), we are sitting above the second resistance, R2, at .181, and have nothing in the way but the upper bollinger band at .201 before breaking out. We need to at least hold here at .19 and get another bullish candle or two to confirm an uptrend that breaks us out of this holding pattern. Things are beginning to turn around here. Still waiting on that FDA run, whether a boom or a gradual rise, doesn't matter; just looking for price to adjust to what has recently transpired.
We are looking to break out our current price channel after being held down by short interests on FDA approval news. We are currently sitting at .19, which is now holding us above the 50MA and the 200MA, our RSI is nice and cool with room to uptrend at 58, accumulation line looking great(*yes, as in accumulation line did not crash despite the recent debacle), we are sitting above the second resistance, R2, at .181, and have nothing in the way but the upper bollinger band at .201 before breaking out. We need to at least hold here at .19 and get another bullish candle or two to confirm an uptrend that breaks us out of this holding pattern. Things are beginning to turn around here. Still waiting on that FDA run, whether a boom or a gradual rise, doesn't matter; just looking for price to adjust to what has recently transpired.
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