MONTHLY CHART
60MIN CHART
With $REFR I will be focusing solely on both triangle patterns,
and price targets on a 60min time frame. The next upcoming weeks for Research Frontiers
will be very decisive for the future prospect of the company’s market
capitalization. $REFR at the moment is trading very close to the end of a secular
Triangle Descending pattern that has been converging its primary trends from
the past thirteen years. This pattern is in many instances recalled of being
for the most part bearish, however it does not exclude the probability of undergoing
a bullish breakout; if it follows through the upside we might see the start of
a new trend for $REFR.
The second image is based on a 60min interval; however, I
only focus on the Symmetrical Triangle that is present at a shorter time
interval. Nonetheless, there are many
other levels that definitely have proven themselves to be uniform, as well as
reliable (e.g., $3.56 - $4.18 - $4.52 – $4.91 -$5.00, etc.) If the price breaks
the upper resistance, I would recommend placing a buy order a couple cents
above the line (in case it was a fake signal) and seek for the 4.52 price
target, placing a stop right below the upper trend line. The Risk/Reward ratio
for this strategy is about 1:12 (the stop being very tight). In the other hand,
if the stock breaks below the line with the rising slope, the price target
would be the $4 dollar mark; we could even see price finding support further below, at the lower green line.
Alexander Schachter
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