TSXV:RHT.H - Post by User
Post by
Ghostofrljpon Nov 01, 2019 1:46pm
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Post# 30298322
Don't mind being wrong on this one...
Don't mind being wrong on this one...Days not done but nice reversal back into the box.
Note the RSI bouncing of the 50 point. Trend confirmation. Its buyable here though I think its still in a consolidation phase but with the potential news could be more running.
Consider the RSI mathematically. Its simply a computation of the high and low range for the day an then the close price in that range. If the RSI stays over 50 it simply means that the close price is remaining in the higher half of the days trading range on average over the period measured. And of course it would be the reverse in a down trend. But its confirming our trend up presently and that by the close of the day bulls don't want to be on the sidelines.
But still a few hours left in the trading day but so far nice reversal and the news is looking more favorable to the market than i thought.
RHT Chart