RS : Resistance at 3.34, support at 3.22
March 30, 2011 Leave a comment
RS has first support at 3.22 and a slightly stronger base at 3.10-3.12. The stock might need a short while longer to gain momentum, but as long as it holds above 3.12 or more this week, another breakout attempt at down trend resistance at 3.34 (and falling) should be seen. A breakout above 3.34 will place 3.50 or so as the initial target. Entry slightly below 3.20 is worth a look, as will a follow buy trade the day volume is huge and its short term down trend line is taken out.