MobertsGR

RSI Bearish Pennant

Short
TSX:RSI   ROGERS SUGAR INC
After a bearish pennant formed just a few weeks ago, another has appeared to form as well. Trendlines aren’t the strongest but that’s mostly due to my lack of experience. Last few days it’s had some very long upper shadows on candles. The stock has also dropped after earnings on the last 2 reports and will post earnings after the trading bell today (feb 10). This scenario suggests that a short would be a favourable trade here.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.