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Registered User
Joined: 5/17/2005
Posts: 221
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after screaming up in price recently and topping out RSh has pulled back and formed a bullish engulfing bar on Friday. I think that this is going to go and test the recent highs at 17.75
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Registered User
Joined: 12/10/2004
Posts: 95
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RSH would look a lot better if it continues to consolidate this latest move & would move back to around $15. If RSH could hold around $15 without my indicators turning (-), I willbe looking to opening a position around there.
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Registered User
Joined: 12/19/2004
Posts: 457
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I looked at the Radioshack chart on multiple time frames.
While I can understand some of the sentiment that this is near some sort of intermediate term bottom, I don't think this is a good bullish play for a few reasons:
1. Broad market averages appear to be turning down. Weak stocks like this are likley to get even weaker.
2. The pop in the stock appears to be related to the acquisition of stock by a financial company--Hall Financial. Pops based on news related items make me suspicious.
3. Economically, consumer spending is slowing and RSH faces tough competition in a low margin business. If it couldn't perform well in current economic conditions, what makes anyone think it will be able to perform better during a slow growth environment?
I'd be looking for an opportunity to get short, not long.
Any price above 19 looks good.
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Registered User
Joined: 10/24/2005
Posts: 101
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malcolmb14,
The chart looks good. I'm afraid to go long right now, but I bought a couple of call options on this for the heck of it.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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When you look at it on a weekly basis the stock is still in its 2% downward channel. I wouldn't touch it with a 10 foot pole, but that's just my opinion.
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Registered User
Joined: 5/20/2005
Posts: 178
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stock look pretty weak to me,
i agree with rmr1976
However, if you really wanna buy radioshack call,
wait until it makes a double bottom.
most of the time, single bottom fails especially in a downtrend market
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Registered User
Joined: 12/10/2004
Posts: 95
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As much as I do not like this stock, I do like the way it is acting right in here. This is the best 2 day up volume since this downturn in RSH started back in 1999. It is now trading less than 15 times next year earning est. If this stock can show us that it can hit or surpass earnings, I think RSH can be trading above $26 by the end of next summer. RSH appears to have held @ the 40 moving ave. & could rally for two or three days here. I do not think enough shorts are worried over this stock yet for it to brake above the July high. So after this next rally fades, the short will get one more push RSH to hit a new low & if that does not happen the next rally in RSH could come fast as short start to cover in this stock. But it could be two or three weeks away before this has a chance to happen if it even does. That is when I will buy this stock if the shorts fail to push this stock to a new low.
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