RCH richfield group limited

chart chat good chart on rch

  1. 1,057 Posts.

    We previously analysed RCH on the 14/01/08 when it failed to trigger our entry. RCH is setting up again for what could be a very strong move.

    Almost 4 years in consolidation (rectangle) reinventing itself set the scene for an explosive move. A look at the weekly chart to cut out some of the noise reveals a 5 wave Elliott impulse chart patten.

    The recent 4th wave retrace appears to have completed indicating a break above $0.04 will project a target zone into resistance between $0.06 and $0.077. This scenario would also complete a large saucer chart patten.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.