RPC INC (RES) - Long +30% profit

I'm longing @ approximately 9.71 with a long term target of at least 13.00
Tight stops.

Arguments:

1. Expanding diagonal identified (zoom out).
2. fib relations are respected in individual ABC waves.
3. 5th bearish Elliott wave withing wave C soon completed. (minor EW 1-5 as shown on chart)
4. Bullish divergence noted on the RSI charts
5. Volume and price action showing oversold status
6. MACD 4HR chart is showing promising signs of a reversal point approaching.
7. GAPS above need to get filled. (92% of all gaps in the markets get filled)

Kommentera:

approaching target.
refining target to approx 9.60