Herr Dr. Pigeon;
Technically, RXD looks like this:
chart.stockwatch.com
Last posts I warned you RXD moved up from .75c to $4.75 a total gains of 600%, that was quite a move for a resource stock like RXD, I even asked you if there any strong reasons to believe your self that RXD could break that $5.00 which was January, 1997 hi.
As I, myself, I have no fundamental or any good rreasons so I consider "safety" is my first priority.
Now the currently price action suggests that REX needs lots fundamental background in order to break that $5.00, it appears that RXD is not ready for that up move. Market got tanked even down to $3.50 from recent hi of $4.75.
Note that a couple days ago, RXD displayed a spike gap down, indicating sellers jump the gun and start to sell, that is why it went down to $3.50 with huge volume.
If i long this stock, I will be out as soon as I can, unless you know the fundamentals and justfy to stay long.
There are many other opportunity and much better than this RXD, at this price level.
Again, I am a bit short term bias.
Good luck to you Herr Dr. Pigeon.
John Paquet |
