Historically when the stock crosses above this RSI level it moves at least 1% over the next few weeks. The average move is 11.32%. A move of that magnitude is possible to a common resistance level around 34.85.
My conservative move would be to the 31.00 milestone so long as it breaks above its resistance level for this calendar year which is where it currently sits.
The best case scenario is to wait one more day to see if it breaks the 2016 resistance, especially on volume. If this occurs, my conservative goal is certainly in play but the next viable ceiling could be around 34.85. This stock has just received multiple STRONG BUY recommendations which could easily propel it.
My conservative move would be to the 31.00 milestone so long as it breaks above its resistance level for this calendar year which is where it currently sits.
The best case scenario is to wait one more day to see if it breaks the 2016 resistance, especially on volume. If this occurs, my conservative goal is certainly in play but the next viable ceiling could be around 34.85. This stock has just received multiple STRONG BUY recommendations which could easily propel it.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
