RESERVOIR MINERALS INC V.RMC

Oversold....

[thorgb1]

https://www.canadastockchannel.com/article/201409/oversold-conditions-for-reservoir-minerals-rmc-ca-rmc-ca-RMC.CA09082014rsica.htm/

Oversold Conditions For Reservoir Minerals (RMC.CA)

By Canada Stock Channel Staff, Monday, September 8, 4:34 PM ET

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In trading on Monday, shares of Reservoir Minerals Inc (CVE:RMC.CA) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $5.60 per share. By comparison, the current RSI reading of the S&P/TSX Composite Index is 50.6. A bullish investor could look at RMC.CA's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of RMC.CA shares:

Looking at the chart above, RMC.CA's low point in its 52 week range is $3.90 per share, with $7.54 as the 52 week high point — that compares with a last trade of $5.65.

[rob926]

I think it is oversold. Today we drop again but with considerable more share volume. This down draft has picked up steam with more shares trading than have in quite a while. I hope there is not some bad news in the pipeline comming. Freeport's silence continues to hurt. We should have lots of drill cores by now and should know if we have a copper (gold will be known when the cores are assayed)

[knotshure]

RMC has a very ugly chart and  no support level . Of course somebody knows something . People are selling  ,and will be selling tmrw too . Be careful ,  it may be the beginning of a major selloff .