Sunday, August 28, 2005

Strong girl in a weak market; RITA

Friday RITA rose 1% in a declining market. She did so with very little volume; Only 54,700 shares were traded.
The low volume along with the rise against the market are good signs and indicate strength.
RITA is currently in a symmetrical triangle. A symmetrical triangle doesn't have a bias, and one should look for other signals to predict whether the movement will go up or down. With the things mentioned I think the bias of this triangle is bullish.


Post a Comment

<< Home