More research on RSL Stock – Discuss in our trading community!
Posted 12/3/2021
RSLS remains in this ending diagonal from my September update, w/ a tight trading range. I marked the A-B-C-wave diagonal extension. Ending diagonals normally range 3-6 months. A breakout often runs quickly. The 16M share count makes this especially compelling. The price broke long-term low support, but a slight break below previous lows is common when a diagonal/wedge wraps up.
Posted 9/22/2021
RSLS is among the plethora of stocks currently finishing out an ending diagonal/falling wedge pattern. It is pressing right up against diagonal resistance. Only 16M shares means a breakout with volume has a lot of upward squeeze potential (see below). If it stalls ahead of $3, another swing lower likely gets to diagonal support at around 1.60-1.65 before the next reversal opportunity.
Posted 8/28/2021
2-hr Chart (including extended market hours) – Still waiting to burst from this falling wedge. With its 16M shares, expect a strong, fast run. I’ve included a few resistance levels, but the short-squeeze market is hot. I’d take some profit at 2x-4x the current price, but 7x-8x to 161.8 Fibo is certainly within reason.
Posted: 8/15/2021
RSLS is finishing up a beautiful falling wedge correction pattern following its strong move from 1.14 to 14.00. It’s near-term low is $3.17. With just 16M outstanding shares, and a 52-week high at 10.77, RSLS is ripe for a strong bullish breakout in the near future. With enough volume, the stock can move past 10.77 and 14.00, and push toward a 161.8% extension (on 1.14-14-3.17) around 24.00.
