RLMD has finally broken out above its long-standing resistance after nearly 10 months of consolidation. The breakout is supported by good volume, which adds strength and reliability to the move.
🔑 Why This is Significant
Long consolidation: When a stock trades sideways for months, it builds strong accumulation. Once price escapes the range, moves are often sharp and sustained.
Volume confirmation: Breakouts on higher-than-average volume signal real demand, reducing the chances of a false breakout.
Gap to fill: There’s a price gap up to $1.70. Gaps act like magnets — if the breakout holds, price often travels to fill them.
🎯 Levels to Watch
Breakout trigger: $0.70 → needs to sustain trading above this level.
Immediate targets: $1.40 → $1.70 (gap-fill).
Invalidation: A daily close back below $0.70 would signal a failed breakout and likely return to consolidation.
✅ Conclusion
As long as RLMD holds above $0.70, bias stays bullish with a possible gap-fill move toward $1.70. Traders should watch for retests of $0.70 acting as support, along with continued volume confirmation.
🔑 Why This is Significant
Long consolidation: When a stock trades sideways for months, it builds strong accumulation. Once price escapes the range, moves are often sharp and sustained.
Volume confirmation: Breakouts on higher-than-average volume signal real demand, reducing the chances of a false breakout.
Gap to fill: There’s a price gap up to $1.70. Gaps act like magnets — if the breakout holds, price often travels to fill them.
🎯 Levels to Watch
Breakout trigger: $0.70 → needs to sustain trading above this level.
Immediate targets: $1.40 → $1.70 (gap-fill).
Invalidation: A daily close back below $0.70 would signal a failed breakout and likely return to consolidation.
✅ Conclusion
As long as RLMD holds above $0.70, bias stays bullish with a possible gap-fill move toward $1.70. Traders should watch for retests of $0.70 acting as support, along with continued volume confirmation.
Trade closed: target reached
target hit 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.