TSXV:RTI.H - Post by User
Post by
Millennial2000on Nov 16, 2017 5:09pm
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Post# 26979973
Glad to sell yesterday & buy back in today @ $1.05
Glad to sell yesterday & buy back in today @ $1.05Some thoughts here:
1. Stay with Technical got me focused on the market and how price target can be set. This is half of the story.
2. Considering the low of the day is $1.04 - a flash correction of more than 16%. A immediate bounce up to $1.15. Then settled back at $1.10. Looks like volatility will last a little while between $1.00 to $1.15. I happen to believe the licence approval has already been baked in the price.
3. So the catalyst to start the next leg up will be the ACB buyout of CMED. Potentially an increase in oil extraction assignment from ACB. The price of ACB will rebalance itself to a tamed level while RTI will benefit from its expanded scope of business.
4. If the stock corrects below $1 it is prudent to start accumulating shares in an aggressive manner for a long position. No worry with the volatility on a day to day basis.
5. For traders like myself I will play the stock by technical and increase my number of shares without putting in extra cash for the trades.
6. Whether you are long, short or flippers for swing trades don’t get your emotion take over your head. Focus on how to set up your price target with reasoning while keeping your emotion away. Just beware : this board is SO full of idiots and trolls.