RESPONSIVE INDUSTRIES is on verge of multiyear breakout!
yellow line line is the resistance...
the stock touched this line first time in 2012
made many unsuccessful attempts in 2015....but failed...
this month again the stock closed right at the line....
i am of the opinion that the stock will break the resistance next month.......my reasoning is based on following....
RSI is above 70 for the first time in the stocks history.....on previous occasions it could barely touch 70..
there is a trendline break in OBV (ON BALANCE VOLUME)...
if on monday the stock prints a green candle above the resistance line....we must buy it...
if it breaks out then the target is the green line.....around 288
the stock touched this line first time in 2012
made many unsuccessful attempts in 2015....but failed...
this month again the stock closed right at the line....
i am of the opinion that the stock will break the resistance next month.......my reasoning is based on following....
RSI is above 70 for the first time in the stocks history.....on previous occasions it could barely touch 70..
there is a trendline break in OBV (ON BALANCE VOLUME)...
if on monday the stock prints a green candle above the resistance line....we must buy it...
if it breaks out then the target is the green line.....around 288
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