Oilspill, as ever we need YOUR chart with YOUR interpretation please, not something that suits your agenda. For what it's worth, I think Range is still holding the broad rising support line from Feb/Mar, so Recognia's claim of a downside breakout is a little premature.. Also, for what it's worth, having not heard of Recognia, my first websearch for it yielded this review on investimonials: "Ok but not reliable I have used recognia,its a free program offered by TRADEKING, its a stock screener that recognizes chart patterns etc etc and recommends entry and exit points.They have automatic email recommendations every end of trading day and the delivery is very timely. They have bullish and bearish recommendation. I have followed and traded the stocks as the program recommends and its not reliable. It recognize the stock patterns most of the time, but the entry and exit points most of the time are way off. I got lucky few times just trading the software's recommendation alone and got good gains but most of the recommendations fail to perform what was recommended by the program. I think the program is very good, but as far as using it on my trading decision ALONE is not smart thing to do. I like the fact that the program is FREE, can be useful and can be a good tool if you add your own analysis to it." ...which seems fair enough.
I'm expecting delays through to completion of Waterflood, but hopefully around the turn of the year we'll see output seriously ramp up. We've tested rising towards 0.5p so I'd expect 1p to go fast on good news. Then I can't see why 2p+ isn't going to come on strong flows, but I think 5p is probably too big an ask. I'd certainly be pleased to see those levels though.
Allowance in this share and I still believe now Chinese on board, especially waterflood ! And new blocks, getting a good supply of water I believe that range will be a company maybe mid teens and I would say late 2018 will not be a totally different range resources and I intend to see that particular range resources in 2018
a "Symmetrical Continuation Triangle (Bearish)" chart pattern formed on Range Resources Ltd (RRL:LSE). This bearish signal indicates that the stock price may fall from the close of 0.34 to the range of 0.01 - 0.07. The pattern formed over 83 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken downward out of a consolidation period, suggesting a continuation of the prior downtrend. A Symmetrical Continuation Triangle (Bearish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks down below the lower trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior downtrend.
This bearish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
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