Dec. 1 at 1:04 AM
$RES is a great bullish consolidation setup! Price is finding strong support right on the 50-day SMA (red line) . This confirms buyers are defending the short-term trend.
Key Levels:
Support (Must Hold):
$5.00 (200-day SMA / Horizontal Support—A close below this is a stop-out signal).
Entry/Breakout: A decisive close above
$5.35 (Recent Pivot High).
Target 1:
$5.75 (Next major horizontal resistance).
Target 2:
$6.00 (Psychological resistance / Top of the channel).
My Opinion: The stock is coiled up and ready for a move higher. The technical structure is very clean. 📈 #OilServices #EnergyStocks #RES #hovdid