RIG Setting up Nicely for a Cup & Handle Breakout
Looking like RIG is setting up for a Cup & Handle breakout. I'm thinking a $1-$2 pop in the near term.
Positives:
Volume has been higher than usual over the last few months.
Hidden Bullish Divergence
Accumulation/Distribution Quantity Rising
50 MA crossed 200 MA
Support on 50 MA
Negatives:
Heavy Resistance Line in Red
Oil is a Dying Sector
Positives:
Volume has been higher than usual over the last few months.
Hidden Bullish Divergence
Accumulation/Distribution Quantity Rising
50 MA crossed 200 MA
Support on 50 MA
Negatives:
Heavy Resistance Line in Red
Oil is a Dying Sector
Will start loading up for the next one during the cool off.