Shes a pushing the upper bollie at 16.15 and may pull back to about 15.80 to the lower bollie before resuming its upward trend. JMHO But what do i know....
I agree Fridays candlestick could have looked more positive...
Talk about "Volatility"...lol The takeoff up in the first half hour Friday was too 'vertical', so it came down just as fast as it went up...I posted here that if it broke above 16.30 on high volume, it was a "Buy" on a Daytrade...I took that one at 16.96...
Then I was on the phone with kingfisher1 when it formed that double-top just after 11am, and said if it broke below 16.43 it would fall to about 16.10 and it did...I also said it would probably 'dead cat bounce' back up to the breakdown level of 16.43, and it did...
I also said it would probably 'strengthen' towards the end of the session, and I was wrong...The chart by the end of the day looks 'weak'...
15minute BBands are tightening...When Money Flow gets above zero again, it could rally on...All other Indicators look pretty good...
Volume of 6.417MM shares Friday!...There 'should' be overflow volume of at least 4MM shares today for the uptrend to continue...After a weekend for more people to look at it, maybe there will be renewed buying interest in RBAK this week...The Market LOVES a 'Success Story'...The A/D Line and Money Flow tells the tale of Fridays 'Profit Taking'...
The body of Fridays candlestic shows it didn't hold more than 50% of it's gains for the day...It's NOT a shooting star, but the top wick is rather large...OBV & A/D upticked, but Money Flow dowticked on profit taking...RSI is trying to break into the 'powerzone' above 70...Parabolic SAR is positive...CCI is out of control...ADX looks very good...Stochastics have broken above 50...MACD fastline crossing up through the slowline...Overall, that's quite a Gap to fill and the question is: 'Will it have to fill it?'...That was a very good Report it just came out with Thursday...It may have to pullback to 15.33 which was it's last area of resistance to close inside the upper Bollinger Band...
What's RBAK going to do today?...Who knows...lol No, really...We'll find that out when it happens... I expect RBAK to increase in value over the next few months, as it approaches it's next Report in three months...
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