At this moment, RLBD is trading above 3 key lines of potential support:
- 50-Day Simple Moving Average
- 100-Day Simple Moving Average
- 200-Day Simple Moving Average
Why is this important? When a profile trades above these 3 lines, traders may gain confidence from these levels holding as potential support for a continued vertical move.
MACD above zero line. The simplest strategy you can think of with MACD is trading when the MACD line crosses the zero line. When the MACD line crosses above zero, you buy.
RSI is sitting right under 50 (49.27). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
Bollinger Band Width: 27.90 (low bandwidth)
This indicator provides an easy way to visualize consolidation before price movements (low bandwidth values) or periods of higher volatility (high bandwidth values).
BARCHART has a STRONG BUY on RLBD: https://www.barchart.com/stocks/quotes/RLBD/overview
According to the OTC Markets, RLBD has 94M float.
Why a low float is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released a few press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
The more potential support builds up, the more possibility for a vertical move up.
Could this signal growing confidence in a return to previous highs?
Earlier this year, RLBD exploded to highs currently over 150% higher than they are trading at during thursday’s session.
Now, I’m not saying that RLBD is going back to that high tomorrow, but between all of the company’s recent positive news along with their bullish technical indicators, it’s definitely a stock to watch closely this summer.