RKH

Here's an old friend to many: RKH. Had some farm-in news today (not read it so can't help you there) but chart looks worth watching regardless of the news

It's been in a year long descending wedge and a close above 134p (also the previous high) should signal a breakout and further gains to come:



dl.dropboxusercontent.com/u/20815047/FTS...RKHdaily03_10_13.png

Rockhopper.

Getting close to weekly trend line. RSI divergence occurring on the weekly chart.

Weekly
dl.dropbox.com/u/21384991/Rockhopper%20E...0Plc%20%28DFB%29.png

Daily
dl.dropbox.com/u/21384991/Rockhopper%20E...Plch%20%28DFB%29.png

Well, the short term trendline didn't hold but it's hit the 61.8% Fib today (will there be a hammer?) and also the RSI uptrend support which formed from the bullish divergence:



dl.dropbox.com/u/20815047/RKHdaily30_01_13.gif

RKH has charted beautifully in the past 5-6 months.

based on the chart below, I prefer a long at these current levels also.

however one waive of concern would be the recent break of the RSO support trendline - this is a possible bearish signal.

That said, I do expect some kind of bounce at these levels, and what I would look for is a re-touch of the RSI trendline, this time as resistance - this would be my exit price for one of my weights.

dl.dropbox.com/u/11107241/ROCKHOPPER%20E...ORD%201P%20Daily.gif

Good upside target to 195 around 20%

30min P&F...right at the support
dl.dropbox.com/u/11107241/ROCKHOPPER%20E...RD%201P%2030Mins.gif

30min on Box size works better in P&F, this is based on my recent analysis using P&F Charts..

Thanks for highlighting...

Cheers
Ramu

First time posting on this board, only came across it today so here goes. RKH - one of my favorite shares for making £'s, Its liquid and easy to chart. As you can see from my posted chart, theres 2 lines of support at 161 and 161.50 with a 50% fib retrace at 160.40. Taking the spread into account a good buying price would be 161 to 163 . It Took a 1.67% hit today which is to be expected on a Friday afternoon with day traders taking profit not wanting to hold over the weekend. Can see a bullish Monday morning and if she holds then its upto 185 for a 15% profit in 7 days. Of course its all in my opinion so do your own research and best of luck.