Today RD hit the 65.80 of neck line support. A vigil here if it continue to be bearish, a break from its previous high and the neck line equal to possible down side target of 60.50. US Integrated are holding up okay, Euro Integrated pulling back, maybe because of the dollar exchange. RD is the worse stock price performer this quarter among majors. I thought the selling was over, but I was wrong. I hope that the neck line will hold, otherwise there could be more selling in the down side. Look at SPX is only down .0015% and RD is down 1.50%. Lets hope this trend line will hold. My humble observation.
Would love to buy now since sitting all cash makes no money. But, if RDSa is falling like a rock when the rest of the market is doing quite well so far this year what will happen if there is a 5-7% market correction? RDSa could easily test 60. Best to wait this out and put on my asset protection hat. JMHO
It is difficult to analyze RD because it goes opposite the market index, even compared to the Energy sector index. Energy Index From November swing was retrace only 18% (pullback), on RD
it retrace 83% ( gave back/pullback) of November advance, and SPX only gave back 4% of that swing. It seem to happen every spring season that RD goes the opposite of the market index. If RD consistently break down, I may have to cut my losses and buy it cheaper at $60. I notice retiredguru said the same thing that he got the market direction right but RD went south the opposite way. I am holding and watching the neck line trend line 65.80 if broken again. IF you look at XLE select Energy ETF (no pullback), it's doing well compared to RD.