RYAM Long Idea - Daily - Target is $16.00 by Oct 29th
Similar setup to that last push up with the divergences. That support buying area goes all the way back to a double bottom in 9/2015 + 2/2016. Price also wicked into this area when forming the descending wedge that it is in.
I see the first lighter targets getting hit quickly before there is a retrace to find some support before resuming to final targets. Fib levels match up perfectly for this target and I really like this setup.
I see the first lighter targets getting hit quickly before there is a retrace to find some support before resuming to final targets. Fib levels match up perfectly for this target and I really like this setup.
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Comentarios:
Double bottom divergence is playing out perfectly and RSI is above its EMA. This should break out of that descending wedge any day
Comentarios:
Building some momentum and RSI is behaving the same as the last run up in price
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