The price surge in RTK today caused this to be a one day trade. From entry yesterday at 2.18, sold today at 2.48 for +13.8%. Bought yesterday on follow through from Friday’s session which caught my eye on abnormally high volume. Indicated on the image below the Buy and Sell levels used. RTK could definitely continue to go higher, but chose to sell at these levels because it has shown resistance here a few times in the past 30 days. Not looking to overstay my welcome on a speculative $2 stock. Satisfied for sticking to my original plan and moving on to the next trade.
RTK caught my eye after last Friday’s session displaying freakishly high volume, and today I opened a position at 2.18 as it broke thru Friday’s high of 2.16. Targeting the area of 2.45-2.50 to take profits and using recent lows as a stop. Might consider buying more if dips back below 2.10.
- 1/24/17 Update- Sold RTK at 2.48 for +13.8%
RTK closed Friday’s session at 2.16. Not usually interested in trading a stock < 5 but the absurdly above normal volume is something to take note of. The stock traded 2.4MM shares on Friday versus a 10 day average of 175k shares. That combined with the oversold stochastic and bullish candlestick could potentially bring RTK back to 2.50 in a short time. Keeping a close eye on the 2.16 level as it closed here on Friday at the high of the day. If it makes new highs on Monday, I might be inclined to buy a partial position in the range of 2.18-2.20, targeting the 2.45-2.50 area to take profits and using recent lows as a stop.