A Common Pattern On Rare Element

Rare Element Resources (REE) completed a 6-months H&S bottom after gapping from the neck level 2.50-2.58. Implied target is 3.40. Notice 3 bullish characteristics of this breakout: 1) It took out the 200-day MA, 2) Gap at the neckline (which could be filled & would offer an optimal entry point with a high reward to risk ratio) & 3) Increase volume at the neck level, 4x the avg daily. This may well be a reversal

REE

REE Daily

Advertisements

One Comment on “A Common Pattern On Rare Element”

  1. bouraq says:

    Looks fantastic. Should I start trading shares or what? 🙂


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s