Barely 5 months old, the stock of Robinsons Retail Holdings (stock symbol: RRHI) has made good progress despite the early slump back in December.
The Moving Average Convergence Divergence (MACD) signal lines and histogram have crossed lower, but price has remained resilient so far.
With no long-term data to rely on, RRHI can chart its way to new highs in the next 3-12 months if 70 will break in the next few days/weeks. Focus on price action as this stock attempts to navigate toward 100. For now, the unchallenged ascending trendline serves as a reference point. On the downside, keep an eye on the initial support level at 60.
Have you included RRHI to your portfolio? I’ll make sure to post updates on this stock in the coming months.