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RB Global RBA-T had a considerable rise over eight months from $37.76 in March 2020 to $101.93 in November (A-B). The stock then settled in a large three-year trading range mostly between $65 and $94 (dashed lines). The recent rise above the top of this range signaled a breakout and the start of a new uptrend toward higher targets (C).

Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. There is good support near $93-95; only a sustained decline below this level would be negative.

Point & Figure measurements provide targets of $115 and $125. The large trading range (dashed lines) supports considerably higher targets.

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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 24/05/24 4:00pm EDT.

SymbolName% changeLast
RBA-T
Rb Global Inc
+1.2%104.08

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