Technical Input RLC

Stock: RLC
Company: Robinsons Land Corp.
Support: 15.22 / 14.74
Resistance: 17.10 / 17.55


RLC has recovered its short-term trend and formed a higher low with reasonable volume. Although, volume seems to slowly weaken which is dragging its momentum, this is an opportunity for range trade with an anticipation of breaking out from recent resistance.

Recommendation

Despite that this is a good candidate for range trade, our bias would be an aggressive approach in which we will enter a position with an initial target price of 20.00 in the short term.

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