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To: rogermci® who wrote (115294)2/28/2022 6:50:04 PM
From: Rarebird  Respond to of 116211
 
Hi. I'll take a look shortly. We just arrived at our next destination for 2 months in Bullhead City Hills in the middle of nowhere, 10 miles to the nearest Grocery.



To: rogermci® who wrote (115294)2/28/2022 7:26:37 PM
From: Rarebird  Respond to of 116211
 
schrts.co

The November high at $29.96 was the completion of wave 5 of C. The January low at 17.90 is the completion of Wave A, the first wave down.

RYI is currently in a B wave up with a Wave C down coming to lows below $17.90. If I was long the stock, I'd sell it.

B waves are tricky and can approach the previous high ( $29.96) and even hit marginal new highs. But that usually doesn't happen.

It is not a favorable E-Wave chart. Like any other methodology, E-Wave can be wrong and even I don't take it as gospel. I use it in conjunction with other factors. I will go long or short a particular stock when all the factors line up well.

BXC is a very favorable E-Wave chart.

The move up in RYI today broke above its downtrend line. I draw a diagonal in my mind from the $29.96 on the daily to determine that:

schrts.co

If you are really hot on the stock, use a stop loss if it drops below the downtrend line again or just plain sell it.

The fundamentals of RYI are strong. But when Wall Street gets peak earnings in its mind, the stock is finished.