The stock posted a massive breakout that wiped out months’ worth of losses in just 3 trading sessions. The significant spike in buying pressure has pushed RRHI deep into the overbought region. Yesterday officially marked RRHI’s venture above its major MAs, therefore indicating that a pullback is imminent. Both volatility and momentum are going up still. The nearest and strongest resistance that we’re seeing which could possibly cap the rally is at 59.40. Expect the stock’s run-up to slow down the closer it gets to the psychological 60.00 level.
Support: 55.00 / 50.00
Resistance: 59.40 / 65.00