$RLC broke out above its one-year high (1.1534) on heavy volume. Trading value was 4.4 times the 20-day average, with the current price at 1.3375.
A price breakout accompanied by heavy volume often means buyers are willing to step in at higher levels, while selling pressure from investors who bought near the previous high is being absorbed.
Watch for two signs of confirmation: the daily close stays above 1.1534; and a pullback holds above the previous high, which then becomes support.
#RLC
Do your homework before making a move.
A price breakout accompanied by heavy volume often means buyers are willing to step in at higher levels, while selling pressure from investors who bought near the previous high is being absorbed.
Watch for two signs of confirmation: the daily close stays above 1.1534; and a pullback holds above the previous high, which then becomes support.
#RLC
Do your homework before making a move.