After packaging up all the single, fives and tens, and counting them out, Ricks Cabaret (RICK) reported earnings after Thursday's close. Leading into the report, the price action was explosive, rising higher, but with a bit of thrust and pullback action the last two days. In general, the trend looked for a continued rise. The price ended at day dancing with the top pole of the downtrending channel and holding firm after the report. Should this continue into tomorrow’s action, it looks like a buying opportunity over 8.88.
Ricks Cabaret, RICK
The Relative Strength Index (RSI) is bullish and rising. The Moving Average Convergence Divergence indicator (MACD) is turning up as well to support an continued thrust higher. The target of 9.70 from the descending triangle breakout remains with only 9.12 in the way higher. This stock is thinly traded, so keep it light (like other cash businesses I wonder how much activity is off the books). I am sure many of you will be out doing channel checks or other research. Good luck. If you plan to stay at home let me save you the trouble of researching FriendFinder Networks (FFN). Form the chart below, money placed here has clearly gone limp and there is no sense or any turn to positive action even for a few pennies.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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