Discussion in 'Technical Analysis' started by ZZZzzzzzzz, Sep 2, 2005.
Here's my take on RAD, Z. I think we're oversold and I'd consider a limit order of around $3 for Monday and hope for a hammer candle to reach down and fill it. With CCI down under -100 and 4 days down in a row RAD's due to find support.
Fundamentals are weak with a stagnant topline but quarterly earnings are forecast to swing from red to black, and RAD will be adding 60 more stores in '06. In the last 6 months, institutions have increased their holdings of RAD considerably.
Target is $4 in 2 to 3 months. If it gets into the $2's then I'd think about activating a mental stop loss. All of this is IMHO and YMMV, of course. -- J
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