RHC - The trend is your friend
Hey guys welcome back, as promised here is the first of three charts I have this weeks. Give me a follow if your liking the charts so far. Thumbs up and comments are also appreciated.
I have broken the chart down into a general reversal situation. Sell off. Accumulation. Breakout. Retest. Continuation of larger trend.
With that being said I believe RHC is pushing to make a new all time high. With a previous break out after the accumulation and a strong reaction during the retest I think we have the perfect recipe for at the very least a challenge of the all time high. I believe at the current situation that this has a high probability. Over all trend is bullish and the outlook on the company is looking promising. More to follow over the next few months.
Breakdown:
Accumulation phases consist of side ways movement generally after a large retracement from either direction. This phase is a visual accumulation of the share on a large scale. These phase can last for months and years and are generally slow however present excellent opportunities for the average investor (ride the trend).
I have broken the chart down into a general reversal situation. Sell off. Accumulation. Breakout. Retest. Continuation of larger trend.
With that being said I believe RHC is pushing to make a new all time high. With a previous break out after the accumulation and a strong reaction during the retest I think we have the perfect recipe for at the very least a challenge of the all time high. I believe at the current situation that this has a high probability. Over all trend is bullish and the outlook on the company is looking promising. More to follow over the next few months.
Breakdown:
Accumulation phases consist of side ways movement generally after a large retracement from either direction. This phase is a visual accumulation of the share on a large scale. These phase can last for months and years and are generally slow however present excellent opportunities for the average investor (ride the trend).
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