RMI has been looking week since April 2015. After the Buying Climax (BC) and Automatic Rally (AR) was formed the stock has been week and kept moving below the trading range. After some last effort to move to the top of the trading range we see volume drying up indicating that the large players have completed the distribution after the initial increase in volume. The OBV has shown divergence with the price. After breaking the 200 Week MA was broken and retested it looks like the stock is ready to be marked down. The next significant points of interest could be as low as 2662 or even 2257 which is about a 30% decrease in price.
評論:
I have had a another look at the labeling. Price has found some support at around the 3500 as indicated by @Alsitrader indicated in the comments below. The strength of the next rally will indicated if this was the start of a markdown. Price should find some resistance around 3800 and this will indicated if this was distribution.
評論:
評論:
RMI found resistance at 3800. The rally was and volume continues to decline indicating demand has dried up. Will be watching for the Markdown.
