I agree with your assessment.
Please keep in mind that this is short term only.
I don't have enough info to guess about intermediate term.
And I don't know how fast these movements are going to happen.
I see us in a new trading range between 41 and 51 until it breaks above or below that range.
Now, we're going up to test the upside resistance, first at 46 3/4, and if it fills the gap (47 - 51), then on up towards 52. If we fail to get thru and fill the gap, then we'll go down and test the support level. I think there's pretty good support building at the 45 level. I'd like to see that the low for Monday not get much below 45 to confirm this.
I am not very good on intraday predictions, but just for fun, here goes: I expect RSYS to open higher on Monday morning and perhaps test 46 3/4 before 11:00 am. It has been pulling back in the afternoons, like from noon until mid/late afternoon, sometimes tapering down and sometimes up at the end of the trading day. I think there might be a chance to get RSYS at 44 in the late afternoon, but I hope not...
I do not want to see it go lower than Friday's low of 43 1/4.
Then, we could have diverging signals making it very difficult to predict direction...
Unfortunately, due to an important business meeting,
I won't get to watch it tomorrow afternoon.
BTW, this is an opinion not a recommendtion...
Although I had USRX figured out there for a while,
I have been wrong enough on others to make me issue caution to those who might think I know more than anybody else. I am improving my winning percentage, but the real test will come in a consolidating or correcting market...
Alex |
