Way To GO! RBAK...I said it could go up .75 today...
With little resistance...It closed up .84 at 23.84 on a day the Dow was down 80 points or so at one time...The Dow closed down only 18 points and the Nasdaq closed down 21 points...
Today was the second highest close of the YEAR for RBAK!...The only day it closed higher was 4-26-06 at 24.21...
The UPgrade from Miller Johnson sure helped ;^))
I also said it would have another good week in the post I'm replying to:
"I expect another GOOD week for RBAK...
"On the daily chart, it looks to be ready to break out up out of one of the longer bull flags I've seen it make (lower lows, lower highs)...This one took 30 sessions to form, which is twice as long as the last 3 bull flags preceeding it...The upper BBand sits at 23.76 so it could move up .75 or so Monday with no resistance...The potential downside is 20.09 by the lower BBand and the Parabolic SAR is just a few cents higher...The most interesting thing I see on this chart is Friday's VOLUME!..."
It also gave us the pullback I was hoping for at 11:15 this morning...Look how far below the lower Bollinger Band it fell on the 15 minute chart...This is the kind of buy the pullbacks that almost always works on RBAK...
I picked up 2K shares down there at 22.72 that was supposed to be just a quick Day Trade, but it gave me no reason to sell until just seconds before the close when I analyzed the longer term charts...
I sold because it has reached the upper BBand on the daily chart and it's run almost 4.00 in the last six sessions, and is very Overbought...
I'll just be watching tomorrow to see if it can bust up through the upper BBand or not...I think a pullback "may" be in order here, but it might just run up to set a new 52 week high before it does pullback...Heck, it "could" just keep on a runnin'...lol
I made enough today to take the rest of the week off, and I probably will...
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