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Range Resources Corporation Message Board

  • dlink_1510 dlink_1510 Oct 27, 2013 3:49 PM Flag

    RRC Channeling

    If you look at the charts, RRC has been channeling between about 75 on the low side and 85 on the top side. Just bounced off the lower Keltner channel. Both W% R and StochRSI show it id time to buy. MACD has not yet given signal. Should be good fro a short term 7 to 10 point play. JMHO.

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    • Just an update. If you had bought RRC at the bottom of the channel at 74 as suggested, you would be up by about 8 points today. Could have also played it with options. Just saying . . .

    • short term 7 to 10 point play??? yo mean the same 7 to 10 points it lost in the last week??... that's a piece of dung in an energy market on fire for the oily names- PXD EOG KOG WLL.....

      • 1 Reply to how_bout_we_talk
      • Yes, I mean exactly that stock that wen down 7 to 10 points last week. The beauty of a channeling stock is that you can make money both ways. If you had bought at 73.55 on Oct 6th and sold at 81.11 on Oct 16th, you would have made $7.56 per share less commissions. If you had shorted at 83.11 on Oct. 16th and covered your short today at 73.64, you would have made another$9.47 per share. If you buy today, the odds are that it will be higher a week or ten days from now and you can again sell. If it keeps on channeling, then it will probably drop 7 to 10 points thereafter and you can repeat the process.

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