Stepping Out to Ricks Cabaret Tonight for Channel Checks

After packaging up all the single, fives and tens, and counting them out Ricks Cabaret, $RICK, reported earnings Thursday after the 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 though the trend looked for a continued rise. The price ended at the day dancing with the top pole of the downtrending channel and after the report is holding firm. Should this continue into tomorrow’s action it looks like a buying opportunity over 8.88.

Ricks Cabaret, $RICK
rick

The Relative Strength Index (RSI) is bullish and rising and 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 tonight doing channel checks or other research. Good luck. If instead 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.

ffn

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through April 2013 Expiry and sign up here.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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.

blog comments powered by Disqus
Dragonfly Caps Blog